IS 'DIGI-GOLD' THE FUTURE OF GOLD INVESTMENT? UAE gold retailers announced plans to launch 'Digi-gold' - a gold savings scheme where buyers can purchase the gold, keep the valuables purchased in a 'storage facility' without taking possession of it, and sell the gold they bought with the storage done under their name elsewhere—aimed at the Millennial and GenZ population, who don't care much for gold jewellery. A few UAE retailers, such as Malabar Gold, recently unveiled their plans to launch DigiGold investments; it begs to raise the question- As virtual forms of investing in the metal gather speed, will investors end up looking over its cultural value? It would be fair to presume that fintech developers would eventually make it possible for the consumer to even own fractional shares of the precious metal in the form of Digi-gold, as most young people don't have bank lockers in their name. Holding it in digital format makes better sense for UAE consumers. (By Dhanusha Gokulan, Chief Reporter)
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