Gold and silver flows disrupted as Iran war grounds flights

By Leslie Hook Financial Times, London Wednesday, March 4, 2026 Global flows of gold and silver are suffering major disruption as war in the Middle East halts most air traffic into and out of Dubai, in a move that traders say could trigger further volatility in prices that have already suffered sharp swings this year. Dubai is a leading hub for the shipment of bullion, accounting for around 20% of global gold flows last year. That includes both bullion mined in Africa and then refined in the United Arab Emirates, as well as flows from Europe to Asia that transit there. ... Dispatch continues below ... ... ADVERTISEMENT ... Ireland's Tree of Life Gold and Silver Coins Are Available from Money Metals Exchange For Delivery or Secure Storage in Idaho Money Metals Exchange and Tara Coins, supporters of sound money and GATA, are selling Ireland's Tree of Life Gold and Silver Coins, non-legal tender, for U.S. and international delivery or secure storage in the ultra-secure MMX vault in Eagle, Idaho: https://www.moneymetals.com/taracoins The Gold and Silver Trees of Life can be bought directly by retail stackers, retail distributors, and wholesale dealers. The Gold Trees (.9999 purity) are in 1-ounce, 0.25-ounce, and 0.1-ounce sizes, and the Silver Trees (.999 purity) in 1-ounce size. All are approved for individual retirement accounts. Tara Coins is a designer, wholesaler, and retailer of Irish bullion products, selling beautiful, store-of-value, 99.99% pure Irish silver and gold bullion. The Gold Trees of Life are the first 99.99%-pure Irish bullion coins and are beautiful and truly sovereign (non-legal tender) coins. For more information, visit Ireland Trees of Life at Money Metals Exchange -- https://www.moneymetals.com/search?q=tree+of+life -- or contact Shane Lee at [email protected] or 1-800-800-1865. Traders and analysts say that if gold and silver cargoes are disrupted for a lengthy period, this could push up regional prices in Asian markets and increase volatility for metals that have sold off sharply recently after historic bull markets. "Gold availability has become a concern following the suspension of flights from the Middle East," said John Reade, senior market strategist at the World Gold Council. "This is a reason that domestic prices [in India] moved sharply" from trading at a discount of around $50 per troy ounce on Friday, to being on par with London prices on Monday, he added. Gold prices have dropped around 3% this week to around $5,100 per troy ounce, but they are still almost 20% higher than at the beginning of the year.  Dubai was the second-largest exporter of gold in 2024, according to customs data, with India the biggest destination for its shipments. ... ... For the remainder of the report: https://www.ft.com/content/96b41e64-5a34-477f-ab03-d2da7a3a443e * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon: https://tinyurl.com/3xt6uw66 * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work: https://www.gata.org/sites/default/files/GATA-silver-round-front.png