Dubai Gold experiences rare discounted trading, possibly due to Middle East conflict disrupting logistics

SmartContractAuditor · 2026-03-07T05:56:12+00:00

The Middle East conflict has led to flight cancellations and logistics disruptions, with Dubai selling large amounts of gold at discounted prices. Due to high transportation and insurance costs, buyers have paused purchases, and traders are selling gold at discounts of up to $30 below the London benchmark price. Currently, some gold has been loaded onto flights, but some shipments are still stranded. The UAE is a major global gold trading hub, and the situation shows no signs of easing.

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2026-03-07 05:56:12

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Odaily Planet Daily News: As the Middle East war causes flight cancellations and logistics disruptions, a large amount of gold stranded in Dubai is being sold at significant discounts. Sources reveal that due to exceptionally high transportation and insurance costs, and the inability to guarantee timely delivery, many buyers have paused new purchase orders. As a result, under the pressure of indefinite storage and capital costs, traders are starting to sell gold at discounts of up to $30 per ounce below the London benchmark price.

Sources say that although some gold has been loaded onto departing flights from Dubai since mid-week, many batches of gold are still stranded as of Friday. The UAE, especially Dubai, is a major global center for gold refining and trading, not only exporting gold to Asia but also serving as an important transit hub for gold to Switzerland, the UK, and several African countries. Due to the spread of the Middle East conflict, some of UAE’s airspace has been closed; meanwhile, the US and Israel’s military strikes against Iran have entered their seventh day, with no signs of ending yet. (Cailian Press)

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