Gold ticks higher as Middle East war breaks Dubai's gold pipeline

Mar. 04, 2026 5:50 PM ETSPDR Gold Shares ETF (GLD), GDX, IAU, NUGT, SLV, , , , , , , , , , , , , By: Carl Surran, SA News Editor
stack of shiny gold bars 3d illustration

monsitj/iStock via Getty Images

Gold futures edged higher Wednesday, with flights out of gold hub Dubai mostly canceled due to the fighting in the Middle East, leaving traders unable to move their metal.

The war has grounded flights across the Persian Gulf region, shutting down the

Quick Insights

  • Flights out of Dubai are canceled, grounding gold shipments and creating a supply bottleneck, particularly affecting flows from African mines to Asian buyers.
  • Traders expect supply disruptions from Dubai to widen premiums in India and other Asian markets reliant on Dubai's gold pipeline, potentially increasing prices.
  • Gold is balancing between safe-haven demand from geopolitical stress and macroeconomic pressures, whereas silver shows more exaggerated price movements in either direction.

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