Middle East conflict causes shipping halt in Dubai, disrupting global gold and silver circulation
ChainCatcher news, according to Golden Ten Data, as the Middle East conflict has caused most air transportation to and from Dubai to come to a halt, the global circulation of gold and silver is experiencing severe disruption. Traders say this situation may further intensify the already highly volatile precious metals prices seen this year. Dubai is a key global hub for precious metals transportation, with about 20% of global gold circulation passing through the city last year. John Reade, Senior Market Strategist at the World Gold Council, stated that the availability of gold supply has already become an issue.
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