With flights grounded and logistics disrupted due to the Middle East conflict, large quantities of gold stranded in Dubai are being sold at significant discounts. Sources familiar with the matter revealed that many buyers have suspended new purchase orders due to exceptionally high transportation and insurance costs and the inability to guarantee timely delivery. As a result, under pressure from indefinitely incurring storage and financing costs, traders have begun selling gold at discounts of up to $30 per ounce below the London benchmark price. Sources said that although some gold shipments were loaded onto flights departing Dubai starting in the middle of the week, many shipments remained stranded as of Friday. The UAE, especially Dubai, is a major global gold refining and trading center, exporting gold not only to various parts of Asia but also serving as a crucial transit hub for gold from Switzerland, the UK, and several African countries. Due to the escalating conflict in the Middle East, parts of the UAE's airspace have been closed; meanwhile, the US-Israel military strikes against Iran have entered their seventh day, with no end in sight. (Cailian Press)