Dubai's gold market has reached an all-time high. On January 28, 2026, the price of 24-karat gold jumped to Dh632 per gram. This smashing record came after a fast climb of more than Dh111 per gram since January 1, when gold was Dh520. This is almost a 20% increase in less than a month, one of the fastest rises ever seen in the UAE retail market. The boost is not limited to gold alone. Other precious metals in Dubai are also rising as investors look beyond usual stocks and currencies for safer bets. Globally, gold prices recently passed $5,100 per ounce. Experts say this gold surge is due to many factors like geopolitical tensions, a weaker US dollar, and central bank purchases. These conditions make gold a strong store of value during uncertain times. Dubai’s gold traders answered the call by raising local prices sharply, even when other markets were shaky. Gold’s gains in 2026 have in some places topped 60%, making it one of the best performing assets worldwide. Looking ahead, analysts differ on future prices. Some warn gold is "overbought" and might see a slight drop soon. Others note international prices have already crossed $5,200 per ounce. If global tensions continue, experts predict gold could hit Dh650 per gram by the end of March. For now, Dubai stands as a global hotspot for gold. This record-high price confirms its strong appeal as a safe haven, showing its shine even at new heights.