Gold Shipments in Dubai Discounted Amid US-Iran Conflict Disruptions

Gold shipments are delayed and sold at discounts of up to $30 an ounce in Dubai due to restricted flights and heightened shipping costs amid the ongoing US-Iran conflict. Dubai, a key hub for refining and exporting bullion to Asia and beyond, faces airspace closures and logistical challenges, causing short-term tightness in physical gold availability in India. However, Indian buyers currently have ample inventories and can wait, though prolonged disruptions may impact supply. Refiners also report difficulties sourcing semi-refined gold bars from the Middle East.