Dubai has been called the “City of Gold” for decades, and 2026 has put that title to the test. Gold hit a record in January, with 24K reaching AED 664.50 per gram. Prices then slid to about479.50 on 1st July 2026. They have since fluctuated; 24K gold is trading at roughly AED 467 to AED 498.75 per gram in November.
The buying picture has changed too. Jewellery demand in the UAE has dropped sharply. UAE Jewellery demand dropped 28% year on year in the second quarter of 2026. This guide pulls together the latest Dubai gold price data, the 10-year price trend, who actually buys gold in the UAE, and the rules every buyer should know.
Key Dubai Gold Statistics (2026)
- Gold hit its 2026 high in January, at AED 664.50 per gram.
- In July 2026, Gold hit its 2026 low at AED 479.50 per gram. However, 1st November saw a new low at AED 467 per gram.
- 24K gold traded between about AED 467 and AED 498.75 per gram in the first week of November 2026.
- UAE jewellery demand fell 28% in Q2 2026, while bar and coin demand jumped 27% in Q1 2026, to 4.0 tonnes.
- Dubai is about 12.30% cheaper than India for 24K gold in November 2026. In Dubai, gold costs AED 498.75 per gram against roughly AED 568.71 in India.
- Retail gold jewellery carries 5% VAT, while investment-grade gold (99%+ purity) is generally zero-rated.
Dubai Gold Price in 2026
Gold in Dubai is priced per gram by purity, and the rates are set daily from the global spot price, so they move constantly. Below is where prices stand now, followed by how far they have swung this year.
24K Gold Is trading around AED 467 to AED 498 per gram in November 2026.
On 5th November 2026, the Dubai Jewellery Group rate for 24K gold was AED 498 per gram.
Analysts attribute November’s gold-price correction to profit-booking after the earlier rally, alongside elevated US Treasury yields and interest-rate concerns that reduced the appeal of non-yielding assets like gold.
| Purity | Price per gram (5 Nov 2026) |
| 24K | AED 498.75 |
| 22K | AED 461.75 |
| 21K | AED 442.75 |
| 18K | AED 379.50 |
| 14K | AED 296.00 |
Source: Dubai City of Gold
Dubai 24K Gold Peaked at AED 664.50 Per Gram in January
Gold started 2026 with a strong run. Dubai’s 24K rate opened the year at AED 520.25 per gram on 1 January and climbed about 28% in under a month to a record AED 664.50 on 29 January. The rally reversed almost immediately. By 31 January, the rate had fallen back to AED 589.50, about 11% below the peak in two days. No other month in 2026 came close to that high.
Source: UAE Gold Price
Dubai Gold Fell 28% From the January High to a July Low
24K gold dropped to AED 479.50 per gram on 1 July 2026, the lowest point of the year. That is about 28% below the January peak. Prices have risen a little since then. In October 2026, 24K gold was trading at roughly AED 495 to AED 505 per gram, about 3% to 5% above the July low. However, prices dipped again at the beginning of November, with a new low of AED 467 per gram.
Source: UAE Gold Price
Dubai 24K Gold Monthly Average Prices, 2026
The chart shows each month’s average 24K rate, with the shaded band marking the lowest and highest daily price. January’s average of AED 566.73 hides the year’s biggest swing, while February recorded the highest monthly average (AED 606.11) and July the lowest (AED 491.04). The table below gives the exact figures, and October covers 1 to 12 October only.
| Month (2026) | Days counted | Avg 24K (AED/g) | Lowest day | Highest day |
| January | 31 | 566.73 | 520.25 | 664.50 |
| February | 28 | 606.11 | 568.75 | 636.00 |
| March | 31 | 586.82 | 511.75 | 650.00 |
| April | 30 | 570.03 | 551.25 | 582.50 |
| May | 31 | 552.94 | 526.75 | 569.50 |
| June | 30 | 510.18 | 481.25 | 545.50 |
| July | 31 | 491.04 | 479.50 | 503.00 |
| August | 31 | 528.86 | 487.25 | 559.25 |
| September | 30 | 522.87 | 497.25 | 539.25 |
| October (1–12 only) | 12 | 501.81 | 496.50 | 505.50 |
Averages are simple means of the daily 24K rate, weekends included. October covers 1 to 12 October only.
Source: UAE Gold Price, daily history tables, January to October 2026
Gold Price History in UAE (Dirham per Gram), 24K
2026 has the highest prices in this span, with a 24K average of AED 545.98 per gram and a record AED 664.50 on 29 January. 2024 had the lowest, averaging AED 289.35. The average rose about 43% in 2025 and another 32% in 2026, leaving prices roughly 89% above 2024. There was no down year in the span, and 2026 was the most volatile, with a 28% fall from the January peak to the July low. Even that July low of AED 479.50 sits above 2025’s average of AED 414.72. Because 2026 stops on 12 October, its average may still move.
| Year | Days counted | Avg 24K (AED/g) | Lowest day | Highest day |
| 2024 | 366 | 289.35 | 241.25 | 337.25 |
| 2025 | 365 | 414.72 | 318.00 | 546.25 |
| 2026 (to 12 Oct) | 285 | 545.98 | 479.50 | 664.50 |
Source: UAE Gold Price, daily history tables
UAE Gold Demand: Jewellery vs Bars and Coins
Dubai’s gold shops are still busy, but the bags are getting lighter. Jewellery volumes keep shrinking, while bars and coins are growing. UAE jewellery demand fell to 29.4 tonnes in 2025. That’s a 15% drop from 34.7 tonnes in 2024, as higher prices weighed on retail purchases. The table below shows the change.
| Year | UAE jewellery demand (tonnes) | Change vs previous year |
| 2023 | 39.7 | -15% |
| 2024 | 34.7 | -13% |
| 2025 | 29.4 | -15% |
From 2023 to 2025, UAE jewellery demand shrank by roughly 25.9% (calculated from the figures above).
In the same span, bar and coin demand rose to 14.8 tonnes in 2025. That’s a 9% increase, reflecting growing interest in gold as an investment and a way to preserve wealth.
Bar and coin demand jumped 27% in Q1 2026. Demand rose to 4.0 tonnes, up from 3.1 tonnes a year earlier, driven by both resident and tourist buying. Jewellery fell another 28% year on year in Q2 2026. This might be due to the 0% VAT on investment gold like bars and coins, and 5% VAT on jewellry.
Source: Alethihad, Khaleej Times 1, Khaleej Times 2
Dubai vs India Gold Prices
On 5th November, the 24K gold price in the UAE was AED 498.75/gm, whereas in India the price was INR 14,602/ gm that is AED 568.71. That is a difference of AED 69.96. On 13 May 2026, India raised its gold import duty from 6% to 15%. The hike was meant to protect India’s foreign exchange reserves. Jewellers reported a spike in demand right after. One retailer said Dubai jewellery demand rose by up to 30%. Dubai gold costs roughly 11% to 12% less than India after the hike. Joyalukkas says the gap is almost 11%, even after UAE VAT. Malabar Gold & Diamonds puts it closer to 12%.
| Price comparison (Nov 2026) | UAE (Dubai) | India |
| 24K gold price per gram | AED 498.75 | AED 568.71 (approx.) |
| Price difference per gram | — | AED 69.96 or more |
| UAE price advantage | — | 12.30% lower |
Source: Khaleej Times 1, Khaleej Times 2
Who Buys Gold in Dubai: Residents vs Tourists
A Malabar Gold & Diamonds executive said tourists made up 20% to 25% of gold sales in a good quarter. In a weak quarter, the share fell sharply: in Q1 2019, as much as 85% of sales went to domestic shoppers. Indian residents and visitors drove about 60% to 65% of sales. While this data may be a few years old, today, jewellers still say Indian residents and tourists account for a large share of demand.
Source: Gulf News 1, Gulf News 2
Who Buys Gold in the UAE: Nationality and Investment Intent
Gold remains a popular investment choice among UAE residents looking to protect their money against inflation. A survey of more than 1,000 residents conducted by International Financial Group (IFGL) found that gold and UAE property jointly ranked as the top inflation-beating investment choices, with 24% of respondents favouring each. The survey found that gold was particularly popular among Emiratis and Asian residents. However, UAE property also ranked strongly, highlighting the appeal of both tangible assets as ways to preserve wealth.
Investment preferences also differed by gender. Female respondents favoured gold first, followed by UAE property, national bonds and fixed-rate deposits. Male respondents ranked UAE property first, followed by gold and fixed-rate deposits.
Source: Investment International, Hubbis
Dubai Gold Rules and Taxes
Dubai lets you buy as much gold as you want. The rules only care about how you pay, how you carry it, and what the invoice says.
Gold jewellery carries 5% VAT, but investment-grade gold is zero-rated. Tourists can usually reclaim the VAT on jewellery when they export it. One retailer says the refund can be paid in cash up to Dh35,000.
Cash purchases from AED 55,000 get reported. Dealers must file a report on goAML for any cash transaction at or above AED 55,000. The rule covers residents and non-residents alike, and the dealer must submit your ID documents. Several smaller cash payments can add up to the same threshold.
Carrying AED 60,000 or more in gold needs a customs declaration. Gold, jewellery, cash and valuables count together toward the AED 60,000 limit.
| Rule | Figure | What it means for you |
| VAT on jewellery | 5% | Added to your invoice |
| VAT on investment gold | 0% | Bars and coins that meet the rules |
| Dealer cash reporting | AED 55,000 | Bring ID |
| Customs declaration | AED 60,000 | Declare at the airport |
| India duty-free allowance | 40g for women, 20g for men | Applies when you fly into India |
Source: Meydan Free Zone, AML UAE, Property Finder, Gulf News
Wrapping Up
Dubai gold in 2026 has been a rollercoaster. 24K gold hit AED 664.50 per gram in January, fell about 28% to AED 479.50 by July, and has hovered around AED 500 since. Even that July low sits above 2025’s average of AED 414.72, so gold hasn’t gotten cheap by any measure.
UAE jewellery demand slid from 39.7 tonnes in 2023 to 29.4 tonnes in 2025, while bars and coins keep gaining ground. Residents and tourists, especially Indian buyers, still drive a large share of sales, and India’s duty hike to 15% has left Dubai about 12.8% cheaper per gram.
Dubai is still one of the best places in the world to buy gold, but the market is moving from jewellery toward bars and coins. Before you buy, check the live rate, compare final invoices (making charges and 5% VAT included), and keep every receipt.
Ankita is a weathered writer, who has been writing since she could read. Her unabashed love for words, can make her devour an entire book in one night. Besides being a book nerd, she is a caffeine junkie who likes chasing PRs in the gym.