This UAE app allows residents to earn money by leasing gold weighing as low as 0.1 gram
An app based in the UAE that enables residents to purchase gold for Dh1 introduced a new service allowing gold owners to lease their gold assets and generate income from them. The O Gold app enables users to lease out as little as 0.1 gram of gold to generate up to 16 percent annual income from their holdings.
Monetary Metals (MM), a global leader in gold leasing, has partnered with the app to present this opportunity which Mark Pey, the CEO of MM-Dubai, described as a “fantastic innovation” that will benefit UAE residents. He explained briefly how the system works.
We connect gold investors to productive gold users like refineries and jewelers according to his statement. Everyday investors can now use this leasing feature to benefit from their gold assets. The ownership of your gold remains with you even when it is rented to companies we partner with.
Since its launch in 2023 the app has transformed the investment approach for gold among UAE residents. O Gold's chairman Bandar Al-Othman explained that the platform has reached more than 50,000 active users and processed over 70,000 transactions making gold investment accessible to everyone through their simple application. The real focus extends beyond launching an innovative or revolutionary product because it includes building a true Emirati brand presence regionally and worldwide.
The two companies worked together for months to create a new investment model that allows gold owners to earn significant returns through leasing their assets.
The company completes its due diligence before leasing its gold holdings to companies that require them. According to him, the company fully understands how inventory systems work alongside their processing methods and gold security protocols. We connect our system with their inventory platforms to continuously monitor gold movement within their organization. Our RFID tags technology enables us to monitor the position of every gram of gold at all times.
The company maintains a flawless track record by successfully executing 63 gold leases without losing even a single gram of gold which establishes its strong reliability among investors. His team discarded over 90% of companies they approached due to inadequate safety procedures.
The company established an insurance policy that evaluates all potential risks based on his account.
Ahmed Abd El Tawab who leads O Gold emphasized the significance of maintaining continuous gold investments as a regular practice. He explained that numerous countries face challenges with their fiat currency annually. In certain nations, their currency experiences a devaluation of half its value. The price of gold has been on a consistent upward trajectory. The price went up approximately 25 per cent during the previous year.
The CEO of O Gold explained that central banks leasing gold globally made it logical for private gold owners to follow suit while the app enabled them to do so. Investors who lease their gold benefit from the ability to perform this action whenever they choose without facing any penalties.
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