UAE gold prices reach all-time highs with 24K at AED 456.75 per gram, reflecting a global surge in gold markets.
DUBAI: Gold prices in the United Arab Emirates have reached historic levels, with 22-karat gold now selling at AED 422.75 per gram and 24-karat gold climbing to AED 456.75 per gram. The sharp rise, recorded on Monday morning, marks a new milestone following consecutive weekly increases in the local bullion market.
This latest spike is closely tied to global trends, as spot gold nears USD 3,800 per ounce. Similar upswings are visible in neighbouring markets, including India, where 24K gold was trading at ₹11,547 per gram. Experts attribute the surge to rising investor demand for gold as a safe haven amid international economic and geopolitical uncertainties. The weakening of the US dollar and growing inflation fears have further intensified the rush to buy gold globally.
In the UAE, the impact of global forces is being felt strongly due to robust domestic demand. With the festive season approaching, including Diwali and other major celebrations, consumers are facing significantly higher jewellery costs. Analysts advise shoppers to compare making charges across reputed jewellers and evaluate whether 22K or 24K gold is better suited for their budget and purpose.
For investors, the record-breaking gold prices present opportunities and risks. Short-term profits are possible, but timing remains critical due to daily price volatility. More residents are exploring alternative options like gold coins, bars, digital gold platforms, and gold ETFs or bonds. Digital platforms offer convenient gold investment stored in secure vaults, with redemption flexibility. Meanwhile, ETFs provide exposure without physically holding gold.
As prices continue to climb, a balanced approach—monitoring both global market trends and local demand—is vital for consumers and investors aiming to make informed decisions in the evolving UAE gold market.
