Escalating conflict in the Middle East has brought Dubai flights to a complete standstill, putting 20% ​​of global gold flows at risk.

PANews reported on March 4th that, according to Jinshi, the global flow of gold and silver is being severely disrupted due to the Middle East conflict, which has led to the disruption of most air traffic to and from Dubai. Traders say this could trigger further volatility in metal prices, which have already been highly volatile this year. Dubai is a key hub for precious metals transportation, accounting for approximately 20% of global gold flows last year. Traders and analysts point out that if the transportation of gold and silver cargoes is prolonged, it could push up regional prices in Asian markets. John Reade, senior market strategist at the World Gold Council, said, "With flights to the Middle East suspended, the availability of gold has become a worrying issue." One gold trader said, "Currently, there is no cargo moving by air." Normally, gold is transported as cargo by passenger planes, with a single trip carrying up to 5 tons, worth approximately $830 million at current prices.