Middle East Tensions Halt Gold Supply from Dubai, Sparking Market Panic

• Rising Middle East tensions, following US and Israeli actions on Iran, have disrupted gold supply from Dubai.
• Airlines suspended flights for security, impacting physical gold movement as gold is primarily transported by air.
• Dubai is a crucial gold trading hub, supplying major markets like Switzerland, Hong Kong, and India.
• Gold prices surged by 1.7% to $5,277 per troy ounce as investors seek safe haven assets amidst uncertainty.
• Future gold prices and supply depend on de-escalation of tensions and resumption of normal flight operations.