In the several weeks,total,I’ve spent in Dubai I’ve heard several stories of dodgy gold dealings.I haven’t the foggiest idea if they’re true but from what I *do* know (or *think* I know) about the city I wouldn’t bet against their accuracy.
Before they became petro-riche, smuggling was the biggest business in Dubai. The first Ruler, Sheik Rashid, became the boss at independence essentially because his organisation was the most successful smuggling gang.
I did a lot of work repairing and maintaining engines in the dhows that they used for gold smuggling to India back in the mid-70s in Dubai. Some of those dhows had 4000HP of high speed propulsion and special hull forms to enable them to outrun the Indian Navy. I do not know about today, but at that time the gold souk in Dubai was the highest volume gold trading bazaar in the whole middle east.
Later, in the late 70s and early 80s, I had a lot of work smuggling everything from refrigerators to cattle feed to bulldozers between Dubai and Iran, during the Iran-Iraq war. Dubai was hard work but a lot of fun then, but I’ve not been back since. The things young men can do!
Some guys I know and trust were hired to escort gold shipments from various places in the world. All shipments were via charter aircraft to Dubai. When the plane was parked two guys would show up and take possession of the gold. The security guys were limo’ed to the main terminal and handed first class commercial airline tickets to home or the next job. They were on many flights in 2014-15, they suddenly (about August of this year) they were paid off and sent back to the US. They have no idea what happened to the shipments and the aircrews aren’t talking.