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Dubai gold prices rise by over Dh100 in just a month, hitting another record high
Gold prices in the UAE have gained more than half in the first month of this year compared to what they achieved in the whole of 2025
- PUBLISHED: Wed 28 Jan 2026, 9:56 AM
- By:
- Waheed Abbas
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Gold prices in Dubai surpassed Dh630 per gram on Wednesday to a new record high, gaining over Dh100 per gram within a month.
This means the gold prices in the UAE have gained more than half in the first month of this year compared to what they achieved in the whole of 2025.
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According to the Dubai Jewellery Group data, 24K gold price was trading at Dh632 per gram on Wednesday morning, compared to Dh520 at the close of December 31, 2025, jumping Dh112 per gram so far this month.
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Similarly, the other variants of precious metals also hit a record high on Wednesday, with 22K, 21K, 18K and 14K gold trading at Dh585.25, Dh561.25, Dh481.0 and Dh375.25 per gram, respectively.
Spot gold was trading at $4,257.16 per ounce, up 3.4 per cent at 9.30 am UAE time.
Similarly, silver also touched a new record high, trading at $115.56 per ounce, gaining nearly nine per cent.
Mohanad Yakout, senior markets analyst at Scope Markets, said as January 2026 draws to a close, global markets are confronting a rare convergence of forces that could shape investment narratives for months ahead.
He added that gold and silver surpassing record levels go beyond short-term geopolitical concerns. “Instead, it reflects growing investor demand for assets perceived as insulated from currency debasement and policy uncertainty. The rally suggests a deeper reassessment of long-term confidence in fiat currencies, particularly amid questions surrounding central bank autonomy.”
This week brings together three powerful dynamics: a critical Federal Reserve meeting, a historic rally in precious metals, and a decisive earnings test for the world’s largest technology companies. The upcoming Federal Open Market Committee (FOMC) decision is widely expected to result in no change to interest rates, with markets pricing in a hold at 3.50–3.75 per cent. However, the real focus is not on rates, but on the Federal Reserve’s independence.
Yakout noted that inflation in the US remains stubbornly around 2.8 per cent, while political pressure for faster easing has intensified. “With Chair Jerome Powell’s term approaching its May conclusion, investors are watching closely for any shift in tone that might suggest a move away from strict, data-driven policymaking. Even subtle signals could have outsized effects on market confidence.”
