Spot gold in Dubai selling at $30/oz discount amid logistics issues

Spot gold in Dubai is being sold at a discount of $30 per ounce due to logistics paralysis stemming from the conflict in the Middle East, Chinese financial news agency Cailian Press reported. The outlet added that rising local costs for transportation, insurance, and storage are fueling concerns over physical supply shortages in major importing nations. Dubai is a global hub for gold refining and trade, but deliveries are currently delayed amid ongoing U.S. and Israeli military strikes against Iran. While the spot price of gold is trading above $5,000 per ounce, its rally has stalled this week due to a strong U.S. dollar and other geopolitical factors.