591 tons of gold smuggled from war zones entered the UAE

Switzerland-based NGO SWISSAID reported that at least 591 metric tons of smuggled or conflict-linked gold entered the United Arab Emirates in 2024, valued at roughly $74 billion and equal to 42% of the UAE's total gold imports. The gold continued to flow from war zones and sanctioned countries despite new regulations, underscoring the UAE's role as a major hub for bullion of uncertain origin. The findings matter because they raise traceability and compliance questions for a key global gold trading center. What to watch next is whether the UAE tightens import and due-diligence rules, and whether refiners and buyers demand more provenance data.