Dubai starts selling gold at discounts amid rising tensions over Iran
- Mar 7
- 1 min read
Dubai has begun selling gold bars at steep discounts amid supply problems caused by the escalating situation in the Middle East. Bloomberg reports this, citing informed sources.
“Traders are offering discounts of up to $30 per ounce compared to the global benchmark in London,” the report says.
It is noted that many potential buyers are refusing to buy the precious metal because they do not want to incur excessive costs for its transportation and insurance without receiving a guarantee of timely delivery.
The agency’s interlocutors also noted that currently some of such cargoes, which had already been loaded onto planes to be delivered to new owners, are delayed for several days.
