{"id":12296,"date":"2025-11-05T08:53:32","date_gmt":"2025-11-05T03:53:32","guid":{"rendered":"https:\/\/frank.uz\/bez-kategorii\/uzbekistanis-will-be-able-to-purchase-gold-through-bank-applications\/"},"modified":"2025-11-05T08:53:32","modified_gmt":"2025-11-05T03:53:32","slug":"uzbekistanis-will-be-able-to-purchase-gold-through-bank-applications","status":"publish","type":"post","link":"https:\/\/frank.uz\/en\/news-en\/uzbekistanis-will-be-able-to-purchase-gold-through-bank-applications\/","title":{"rendered":"Uzbekistanis will be able to purchase gold through bank applications"},"content":{"rendered":"<h3>Why is this important<\/h3>\n<p>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 \u2014 spreads will decrease from 5-7% to 2-3%. The London overestimation protects against manipulation.    <\/p>\n<h3>What happened<\/h3>\n<ul>\n<li>The Central Bank approved the sale of gold through bank applications;<\/li>\n<li>Electronic form on depersonalized metal accounts (without physical issuance);<\/li>\n<li>Measured ingots with the issuance of a secret code within 5 days;<\/li>\n<li>Banks set prices, publish them in applications;<\/li>\n<li>Daily reassessment of the London Association;<\/li>\n<li>Payment by card, invoice, e-wallet;<\/li>\n<li>Responsible storage of ingots in the bank.<\/li>\n<\/ul>\n<h3>Electronic form of gold<\/h3>\n<ul>\n<li><strong>How it works:<\/strong> the client purchases gold through the application, it is accounted for in grams on a depersonalized metal account (without serial number, manufacturer).<\/li>\n<li><strong>Example:<\/strong> I bought 5 grams of gold for $500. The account displays \u201c5g\u201d, without physical issuance. <\/li>\n<li><strong>Benefits:<\/strong>\n<ul>\n<li>Low entry threshold &#8211; from 1 gram ($100);<\/li>\n<li>There is no risk of physical gold being stolen;<\/li>\n<li>Instant purchase\/sale through the app;<\/li>\n<li>Re-evaluate daily based on global quotes.<\/li>\n<\/ul>\n<\/li>\n<li>Disadvantages: you can&#8217;t take the physical gold back (just sell it back to the bank).<\/li>\n<\/ul>\n<h3>Measured ingots through the app<\/h3>\n<ul>\n<li><strong>How it works:<\/strong> 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. <\/li>\n<li><strong>Alternative: <\/strong>place the ingot in a bank for responsible storage (accounting for sample, mass, series, manufacturer). Sell via app at any time. <\/li>\n<li><strong>Benefits:<\/strong>\n<ul>\n<li>Physical gold on the hands;<\/li>\n<li>Safe storage in the bank;<\/li>\n<li>App sales without visiting.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Disadvantages: <\/strong>minimum 10 grams (~$1000), 5 days to wait.<\/li>\n<\/ul>\n<h3>Depersonalized metal accounts<\/h3>\n<ul>\n<li><strong>What is this: <\/strong>an account that records the volume of gold in grams without linking it to a specific ingot (serial number, manufacturer).<\/li>\n<li><strong>Analogue:<\/strong> bank deposit in gold. The client owns a \u201cshare\u201d of the bank&#8217;s gold, not a specific ingot. <\/li>\n<li><strong>Revaluation:<\/strong> daily based on quotations of the London Association of the Precious Metals Market (LBMA) \u2014 world market benchmark. Protection from bank manipulation. <\/li>\n<\/ul>\n<h3>Prices and competition<\/h3>\n<ul>\n<li><strong>Banks set prices independently:<\/strong> they publish them in applications, websites, and social networks. They can change within a day. <\/li>\n<li><strong>Competition will reduce the spread:<\/strong> now banks are selling gold with a 5-7% markup (buying $100, selling $95). Competition will reduce spreads to 2-3%. <\/li>\n<li><strong>Example:<\/strong> gold in the global market is $100\/gram. Bank A sells for $102, bank B sells for $103. The client will choose A.  <\/li>\n<\/ul>\n<h3>Identification and payment<\/h3>\n<ul>\n<li><strong>Identification:<\/strong> through the bank application (OneID, biometrics, passport).<\/li>\n<li><strong>Payment: <\/strong>bank card, account, electronic wallet (Click, Payme, Uzum).<\/li>\n<li><strong>Security:<\/strong> all operations online, with identity verification.<\/li>\n<\/ul>\n<h3>Responsible storage<\/h3>\n<p>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. <\/p>\n<p>The client sees in the app:<\/p>\n<ul>\n<li>Branch addresses;<\/li>\n<li>Gold remainder;<\/li>\n<li>Purchase\/sale prices.<\/li>\n<\/ul>\n<p>Can sell the ingot through the app at any time.<\/p>\n<h3>Investment opportunities<\/h3>\n<ul>\n<li><strong>For citizens:<\/strong> 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).  <\/li>\n<li><strong>For businesses:<\/strong> asset diversification, currency risk hedging.<\/li>\n<\/ul>\n<h3>Context<\/h3>\n<ul>\n<li><strong>Gold is a protective asset:<\/strong> during inflation, devaluation, and crises, gold prices rise. Uzbeks traditionally keep gold (jewelry, bars) as a savings deposit. <\/li>\n<li><strong>Difficulty buying earlier: <\/strong>visiting the bank, queues, minimum 10 grams ($1000), high spreads (5-7%).<\/li>\n<li><strong>Electronic form \u2014 revolution:<\/strong> instant purchase through app, from 1 gram, low spreads (2-3%), without the risk of theft.<\/li>\n<li><strong>Depersonalized accounts<\/strong> are used in the USA, Europe, and Russia. The client owns a \u201cshare\u201d of the bank&#8217;s gold, not a specific ingot. <\/li>\n<li><strong>Overvaluation by LBMA:<\/strong> The London Association is the benchmark of the global gold market. Daily revaluation protects against bank manipulation. <\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank approved the sale of gold through bank mobile applications.<\/p>\n","protected":false},"author":4,"featured_media":11472,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_sharing_image":{"poster":"https:\/\/frank.uz\/wp-content\/uploads\/2025\/11\/690ba1fe9f79b.jpg","width":1200,"height":630,"template":"2bf59057","mode":"auto"},"_sharing_image_fieldset":{"Dv78f24rp1hU":11472,"YlB8HH34jIzY":"Uzbekistanis will be able to purchase gold through bank applications"},"pin_until":"","footnotes":""},"categories":[2061],"tags":[2081,2079,2197,2143],"class_list":["post-12296","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-cb","tag-finance","tag-gold","tag-investments"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.0 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Uzbekistanis will be able to purchase gold through bank applications &#8212; 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