A large amount of gold in Dubai is stuck and being sold at a discount.

The price of safe-haven assets such as gold remained at high levels this week, fluctuating, rising significantly at the onset of the conflict, and then decreasing. As one of the important global gold trading centers, trading volume in the local gold market in Dubai increased significantly this week, with some investors shifting their funds to safe-haven assets such as gold. At the same time, due to flight cancellations and disruptions in logistics channels, a large amount of gold is stuck in Dubai, causing some traders to sell gold at a discount of up to $30 per ounce below the London benchmark price.