Gold imports via Dubai may rise after India hiked import duty from 6% to 15%. With the India UAE trade pact in play, gold can be imported at an effective 14% rate versus the higher general duty, creating a clear arbitrage window that could shift sourcing and volumes.
Gulf states are stuck between war and peace as the Strait of Hormuz blockade slashes energy exports and forces costly infrastructure repairs. Stalled US-Iran talks are putting economic recovery and diversification plans at risk, while analysts say the region struggles to shape Washington’s decisions. Reports of unpaid leave and salary cuts add pressure as about half of Gulf countries forecast contraction.
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