Gold prices in the UAE recorded a slight dip on January 23, offering modest relief to shoppers and investors amid ongoing global market fluctuations.
According to local market rates, 24-carat gold was trading at around AED 325 per gram, while 22-carat gold stood near AED 301 per gram. Prices for 21-carat gold hovered at approximately AED 291 per gram, and 18-carat gold was priced close to AED 249 per gram. The cost of a tola of 24-carat gold was quoted at roughly AED 3,790.
The marginal decline comes as international gold prices softened slightly, influenced by movements in the US dollar and cautious sentiment ahead of key global economic data. Analysts say gold continues to trade within a narrow range as investors balance inflation concerns with expectations around interest rates.
In the UAE, gold prices remain closely watched, particularly in major markets such as Dubai and Sharjah, where jewellery demand tends to rise during periods of price stability or mild corrections. Retailers noted steady interest from buyers, especially ahead of upcoming wedding and festive seasons.
Market experts advise consumers to stay updated with daily rates, as prices can change multiple times a day depending on global bullion trends and currency movements. While short-term fluctuations persist, gold continues to be viewed as a safe-haven asset by long-term investors.
For now, the slight dip has encouraged cautious buying, with many shoppers waiting to see whether prices fall further in the days ahead.
