PANews reported on March 6th that, according to sources cited by Jinshi, air freight of gold to Dubai has been disrupted due to the escalation of the Middle EastPANews reported on March 6th that, according to sources cited by Jinshi, air freight of gold to Dubai has been disrupted due to the escalation of the Middle East
The conflict in the Middle East has disrupted air freight of gold from Dubai, with spot prices trading at a discount of up to $30 to the London benchmark.
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PANews reported on March 6th that, according to sources cited by Jinshi, air freight of gold to Dubai has been disrupted due to the escalation of the Middle East conflict and the partial closure of regional airspace. Some spot gold is being sold at a discount of up to $30 per ounce to the London global benchmark price. Buyers have suspended orders due to soaring transportation and insurance costs and uncertain delivery times, leaving a large amount of gold stranded in Dubai on Friday. The UAE, especially Dubai, is a crucial hub for gold bar refining, export, and transshipment in Asia.
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