DUBAI: Gold prices in Dubai have stabilised slightly after peaking to record levels last week, with today’s retail rate for 24-carat gold quoted between AED 553 and AED 558.50 per gram. The UAE continues to experience high demand for gold, supported by seasonal buying and safe-haven interest from both tourists and residents.

According to market data, the price of 22-carat gold in Dubai is currently hovering around AED 512–517 per gram, while 21-carat stands between AED 491–495 and 18-carat at approximately AED 421–425 per gram. These rates are reflective of live international gold spot price movements and are adjusted by local jewellers in Dubai’s Gold Souk and across retail outlets in the emirate.

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This price range comes after a strong January rally that saw gold touch new highs driven by global factors. A combination of geopolitical tensions, US rate cut expectations, and a strong investor push into safe-haven assets supported the uptrend. While prices have now eased slightly, analysts believe gold demand in the UAE remains resilient.

Jewellery retailers in Dubai report continued customer interest, with some buyers hoping for further rate drops before major purchases. However, the market remains optimistic due to consistent tourist-driven demand, and gold remains a favoured gift item for occasions such as weddings and festivals.

Investors, meanwhile, are monitoring inflation data and central bank policy developments closely, as these could influence gold’s next direction globally. For now, buyers in Dubai are advised to keep an eye on short-term fluctuations, especially as international gold remains above USD 2,040 per ounce.