Mumbai, January 23: Gold prices in Dubai surged to record-breaking levels on Friday, January 23, 2026, following a significant rally in global bullion markets. The 24K gold variant is currently trading at AED 591.75 per gram, reflecting a sharp increase compared to earlier in the week. This upward trend comes as international spot gold prices test new resistance levels amid global economic shifts. Check out the 18K, 21K, 22K and 24K Dubai gold rate today, January 23, in AED, USD and INR below.

The local price hike in the “City of Gold” mirrors a broader international surge. On Friday morning, global spot gold prices remained firm above the USD 4,900 per ounce mark. Analysts attribute this momentum to a combination of geopolitical uncertainties, including recent developments regarding Greenland and NATO, alongside increased demand for safe-haven assets.

In Dubai, retail prices are influenced directly by these international benchmarks, supplemented by local market demand. The current rates represent one of the highest valuations for the precious metal in the UAE’s history, marking a significant increase since the start of the month. Gold Rate Today, January 23, 2026: Check 22K & 24K Gold Prices in Delhi, Mumbai, Chennai and Other Cities.

Dubai Gold Price Today, January 23, 2026

Purity Unit Price (AED) Price (USD) Price (INR)
24K 1 Gram 591.75 161.13 14,710
10 Grams 5,917.50 1,611.30 147,100
1 Tola 6,902.17 1,879.42 171,577
22K 1 Gram 548.00 149.22 13,623
10 Grams 5,480.00 1,492.20 136,230
1 Tola 6,391.87 1,740.49 158,901
21K 1 Gram 528.75 143.98 13,144
10 Grams 5,287.50 1,439.80 131,440
1 Tola 6,167.31 1,679.37 153,319
18K 1 Gram 450.25 122.60 11,193
10 Grams 4,502.50 1,226.00 111,930
1 Tola 5,251.72 1,430.01 130,557

Note: Prices are indicative and based on market opening rates. Retail prices may vary slightly based on individual jeweler premiums.

Impact on Retail and Investment

The record highs have created a mixed sentiment in the Dubai Gold Souq and various retail hubs. While seasoned investors are seeing substantial gains on their existing holdings, retail buyers and tourists are facing significantly higher entry costs for jewelry. Dubai Gold Rate Today, January 22, 2026: Prices Surge to Fresh Record Highs, Check 18K, 22K and 24K Gold Rates.

Local jewelers noted that despite the high prices, the city continues to see steady footfall, particularly from overseas buyers who benefit from the tax-free and competitive pricing structures unique to the UAE market.

January 2026 has been a volatile month for the metal. Prices began the year at approximately AED 520.25 for 24K gold. The current rate of AED 591.75 underscores a period of rapid appreciation.

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(The above story first appeared on LatestLY on Jan 23, 2026 10:01 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).