Finance
Dubai gold flows curbed as flights halted due to US-Israeli strikes on Iran
Published by Global Banking & Finance Review®
Posted on March 1, 2026
2 min readLast updated: March 1, 2026
Quick Summary
Airlines have suspended flights to/from Dubai due to US‑Israeli strikes on Iran, sharply curbing physical gold flows as air cargo routes are disrupted, driving gold prices to multi‑week highs amid safe‑haven demand.
Dubai Gold Flows Severely Curbed Amid Flight Cancellations After Strikes
Impact of Flight Cancellations on Dubai's Gold Trade
Disruption in Physical Gold Flows
LONDON, March 1 (Reuters) - Physical gold flows to and from Dubai's bullion trading hub will be severely curbed in coming days as airlines cancel flights due to U.S. and Israeli strikes on Iran and Tehran's retaliation, three metals industry sources said.
Dubai's Role in Global Gold Supply Chain
Dubai's trading hub is a major gold supplier to Switzerland, Hong Kong and India, a major consumer. Gold travels by plane due to security and insurance issues stemming from its value-to-weight ratio.
Immediate Effects on Gold Movement
"It looks like most if not all airlines have cancelled their flights, so not going to be any gold moving for a couple of days," one of the sources said.
Potential Global Supply Impact
The impact on the global supply will depend on the length of disruption, the sources said. They declined to be named because they are not authorised to speak to the press.
Gold Price Movements and Market Reactions
Spot gold prices closed on Friday up 1.7% at $5,277 per troy ounce, their highest since January 30, with many analysts expecting safe-haven inflows into bullion once the market opens on Monday. Gold's record high was $5,594.82 on January 29.
Key Trading Hubs Remain Stable
The market on Monday is likely to be dominated by financial flows on markets in Shanghai, London and New York, another source said.
"The major locations - China, India, New York, London and Zurich - are still okay," a precious metals trader said.
Reporting and Editorial Credits
(Reporting by Polina Devitt; Editing by Emelia Sithole-Matarise)
Key Takeaways
- •Major airlines like Emirates, Etihad, flydubai, Air Arabia have halted UAE flights until at least March 2–4, severely limiting gold transport by air (apnews.com)
- •Dubai is a key bullion hub supplying Switzerland, Hong Kong and India, and gold movement is highly dependent on flights due to security and insurance constraints (businessinsider.com)
- •Spot gold surged ~1.7% to its highest since Jan 30 at $5,277/oz as markets anticipate safe‑haven inflows once trading resumes (apnews.com)
References
Frequently Asked Questions about Dubai gold flows curbed as flights halted due to US-Israeli strikes on Iran
1Why are gold flows in Dubai being disrupted?
Gold flows are being disrupted due to airlines cancelling flights after US-Israeli strikes on Iran and Tehran's retaliation.
2How long will the Dubai gold flow disruption last?
The duration depends on how long flight disruptions continue, with no gold likely to move for at least a couple of days.
3Which markets are most affected by Dubai's gold supply interruption?
Switzerland, Hong Kong, and India—major gold consumers—are mainly affected by disruptions from Dubai.
4How have gold prices reacted to the Dubai supply news?
Spot gold prices rose 1.7%, reaching their highest since January 30, with expectations of more safe-haven inflows.
5Are other major gold markets impacted by the flight cancellations?
Markets in China, India, New York, London, and Zurich remain operational despite Dubai’s disruption.
