Why is this important
Gold through apps is a revolution for investors who avoid bank visits, queues, and bureaucracy. The electronic form allows you to buy 1 gram for $100, reducing the entry threshold by 10 times. Depersonalized accounts eliminate the risk of physical gold theft. Banks are competing in prices — spreads will decrease from 5-7% to 2-3%. The London overestimation protects against manipulation.
What happened
- The Central Bank approved the sale of gold through bank applications;
- Electronic form on depersonalized metal accounts (without physical issuance);
- Measured ingots with the issuance of a secret code within 5 days;
- Banks set prices, publish them in applications;
- Daily reassessment of the London Association;
- Payment by card, invoice, e-wallet;
- Responsible storage of ingots in the bank.
Electronic form of gold
- How it works: the client purchases gold through the application, it is accounted for in grams on a depersonalized metal account (without serial number, manufacturer).
- Example: I bought 5 grams of gold for $500. The account displays “5g”, without physical issuance.
- Benefits:
- Low entry threshold – from 1 gram ($100);
- There is no risk of physical gold being stolen;
- Instant purchase/sale through the app;
- Re-evaluate daily based on global quotes.
- Disadvantages: you can’t take the physical gold back (just sell it back to the bank).
Measured ingots through the app
- How it works: the client buys the ingot through the application, pays, and receives a secret code. Takes the ingot from the bank in 5 working days according to the passport and code.
- Alternative: place the ingot in a bank for responsible storage (accounting for sample, mass, series, manufacturer). Sell via app at any time.
- Benefits:
- Physical gold on the hands;
- Safe storage in the bank;
- App sales without visiting.
- Disadvantages: minimum 10 grams (~$1000), 5 days to wait.
Depersonalized metal accounts
- What is this: an account that records the volume of gold in grams without linking it to a specific ingot (serial number, manufacturer).
- Analogue: bank deposit in gold. The client owns a “share” of the bank’s gold, not a specific ingot.
- Revaluation: daily based on quotations of the London Association of the Precious Metals Market (LBMA) — world market benchmark. Protection from bank manipulation.
Prices and competition
- Banks set prices independently: they publish them in applications, websites, and social networks. They can change within a day.
- Competition will reduce the spread: now banks are selling gold with a 5-7% markup (buying $100, selling $95). Competition will reduce spreads to 2-3%.
- Example: gold in the global market is $100/gram. Bank A sells for $102, bank B sells for $103. The client will choose A.
Identification and payment
- Identification: through the bank application (OneID, biometrics, passport).
- Payment: bank card, account, electronic wallet (Click, Payme, Uzum).
- Security: all operations online, with identity verification.
Responsible storage
The client purchases the ingot through the application, places it in the bank for responsible storage (accounting for sample, mass, series, manufacturer). The bank physically stores the ingot.
The client sees in the app:
- Branch addresses;
- Gold remainder;
- Purchase/sale prices.
Can sell the ingot through the app at any time.
Investment opportunities
- For citizens: protection of savings from inflation, devaluation. Gold is rising in price (from $1800 in 2023 to $2600+ in 2025). The electronic form reduces the entry threshold to 1 gram ($100).
- For businesses: asset diversification, currency risk hedging.
Context
- Gold is a protective asset: during inflation, devaluation, and crises, gold prices rise. Uzbeks traditionally keep gold (jewelry, bars) as a savings deposit.
- Difficulty buying earlier: visiting the bank, queues, minimum 10 grams ($1000), high spreads (5-7%).
- Electronic form — revolution: instant purchase through app, from 1 gram, low spreads (2-3%), without the risk of theft.
- Depersonalized accounts are used in the USA, Europe, and Russia. The client owns a “share” of the bank’s gold, not a specific ingot.
- Overvaluation by LBMA: The London Association is the benchmark of the global gold market. Daily revaluation protects against bank manipulation.
