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Short Description: Dubai gold prices just shattered all records, surging past Dh630 per gram. This historic rally is fueled by global trends and signals a major shift in the precious metals market. Read on for the full breakdown.
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Dubai Gold Soars to Record Dh632, Fueled by Global Safe-Haven Rush
The iconic “City of Gold” has entered uncharted territory. In a stunning monthly rally, Dubai gold prices have officially broken all previous records, with pure 24-karat gold reaching a historic high of Dh632 per gram on Wednesday, January 28, 2026. This staggering peak represents a gain of over Dh111 per gram since the start of the month, translating to a near 20% increase since New Year’s Day. The surge underscores a frantic global dash for safety as investors grapple with mounting economic uncertainties.
This explosion in value is not an isolated event; it is a direct reflection of powerful global forces. Gold prices surged past $5,100 per ounce on international markets, driven by a potent mix of geopolitical tensions, a weakening US dollar, and aggressive central bank buying. These factors have converged to make gold one of the world’s top-performing assets, with year-to-date gains exceeding 60% in some markets. The precious metals market, including silver and platinum, is also experiencing significant upward momentum as investors seek alternatives to volatile stocks and currencies. This broad-based demand has translated directly into the UAE’s retail sector, confirming Dubai’s pivotal role in the global bullion trade.
As the market digests these unprecedented levels, analysts are divided on the immediate future. Some caution that prices are in “overbought” territory and a short-term correction is possible. However, the prevailing sentiment suggests the rally has more room to run. If current macroeconomic and geopolitical instability persists, experts believe the next major milestone of Dh650 per gram could be breached before the end of the first quarter. For global investors and local buyers alike, Dubai’s record-shattering prices prove that gold’s allure as the ultimate safe haven remains stronger than ever, even at peak valuations.
Short Summary: Dubai’s gold market has hit a historic high of Dh632 per gram, driven by a global rush for safe-haven assets. With international prices surpassing $5,100/oz due to geopolitical and economic pressures, the precious metals rally shows no immediate signs of stopping. Analysts now watch to see if the Dh650 threshold will be the next record to fall in the coming months.
