Dubai Gold Prices Drop $30/Ounce Amid Middle East Conflict, Flight Disruptions

• Gold in Dubai is being sold at a discount of up to $30 per ounce compared to global benchmarks due to the widening Middle East conflict.
• Flight disruptions and airspace restrictions, triggered by escalating tensions involving Iran and Israel, are hampering bullion movement.
• Traders are offering discounts to avoid prolonged storage and financing costs as shipments are stuck and buyers are hesitant due to high logistics costs.
• India, a key buyer of gold from Dubai, faces short-term supply disruptions with cargo shipments already delayed, impacting physical bullion availability.
• While India's domestic inventories are currently comfortable, experts warn that prolonged conflict could eventually affect supply if disruptions continue for months.