Gold prices have reached all-time highs in major gold markets, including Dubai and India. On September 2, the Dubai gold price reached a fresh all-time high. One gram of 24 Karat gold is currently priced at AED 421.50, 22K at AED 390.25, 21K at AED 374.25, and 18K at AED 320.75.
On MCX, the spot price of gold on September 2 was at Rs 1,03,969 per ten gram of 24 carat, while in the futures market on September 2, it was 104865 for the 03 OCT 2025 contracts. For 05 DEC 2025, the gold price was at Rs 1,06,061. The gold price today in India is Rs 1,05,270.
Gold reached an intra-day high of $3,508.79 on September 2, surpassing its previous high of $3,500 set on April 22, 2025.
Gold Prices in Dubai
Record-high gold prices in Dubai are shaking up the UAE gold market for shoppers and jewellery retailers.
Gold’s all-time high in Dubai coincides with the ongoing 10-day Onam festival, a popular South Indian celebration ending on September 5. Diwali 2025 will be celebrated on October 21.
India Vs Dubai Gold Price
Gold price in Dubai is lower than it is in India. At the current foreign exchange rate, you need Rs 24 to buy 1 AED.
On September 1, one gram of 22-carat gold was quoted at AED 387.75, approximately Rs 9,306. Comparatively, gold in India is trading higher at Rs 9,649.75.
However, bringing gold from Dubai may not be as easy as your other shopping experience in the city of gold. There are strict laws to be followed if you wish to bring gold from Dubai to India.
Why is the gold price rising
The uncertainty over President Donald Trump’s tariffs and increased bets for a US interest-rate cut are boosting gold prices higher.
Recent US inflation data strengthened predictions of a rate drop later this month. Markets are currently pricing in about an 88% probability of a 25 basis point cut at the upcoming Fed meeting, even after the Fed’s preferred PCE inflation report showed prices rising. The next FOMC meeting is to be held on September 16-17, around which expect some more volatility in gold prices.