Dubai is a vital transshipment level within the worldwide gold commerce. After the planes needed to keep on the bottom there due to the Iran conflict, the dear steel can now not be transported. And the overland route? This poses an insurmountable drawback.
https://www.welt.de/wirtschaft/plus69a853a1906b538390b66244/lockdown-fuers-gold-was-die-dubai-krise-fuer-den-globalen-handel-bedeutet.html