A study has been made of the variables in the Southern Hemisphere globular cluster NGC 6723, which is suspected of being relatively metal-rich on the basis of its colour-magnitude diagram and of its integrated spectral type of G3. Seven new RR Lyrae stars and two bright red, probably semiregular, variables have been found and the suspected variable of Fourcade and Laborde has been confirmed. The complement of RR Lyrae stars is now 27, consisting of 4 c-type and 23 ab-type variables, the mean periods being Pc = 0.d292 and Pab = 0.d537. On the basis of the two-colour diagram of the horizontal branch stars the cluster is considered to be virtually un-reddened. Applying Christy’s models to the data from this study we find the following parameters for the variables: Mv= 1.m10, mass = 0.42 M⊙, and Y=0.4.