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"Severely Curbed": Gold Shipments Through Dubai Stalled In Wake Of Strikes On Iran
Gold shipments through Dubai are set to stall for several days after airlines suspended flights amid U.S. and Israeli strikes on Iran and Tehran’s response, according to three industry sources and Reuters. Because gold is typically transported by air for security and insurance reasons, the cancellations are expected to sharply limit physical flows. Reuters writes that Dubai is a key supplier to Switzerland, Hong Kong and India. Sources said the broader impact on global supply will depend on how long the disruption lasts. They spoke on condition of anonymity. Gold futures jumped 3% on Monday morning prior to the ... (full story)
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