Gold Arab Emirate (Gold AE), an online trading platform for gold and silver, has signed a deal with Gold to go, the pioneer in direct sales of gold and silver via vending machines. 

 

Under the collaboration, Gold AE has obtained the right to manage and supply gold to gold vending machines in the UAE. 

 

Currently, there is one Gold ATM machine located in Atlantis The Palm Hotel in Dubai, with plans to soon add more machines in key places like Souk Madinat and Dubai Mall. 

 

In Abu Dhabi, there are already machines placed at the Emirates Palace, two in Al Bateen Airport and four at Abu Dhabi International Airport-Arrival Hall. 

 

Plans are set to add more machines in Marina Mall as well as other locations. 

 

Gold AE is also planning to buy more gold-dispensing machines in the future – increasing the number to 50 machines.

 

Gold AE’s latest partnership is in line with its main goal to enhance and strengthen gold and silver trading in regional and international markets through the use of the newest technologies and innovations, according to the company’s senior executives.

 

Sheikh Sultan bin Khalifa bin Sultan Al Nehayan, chairman, Gold Holding, said: “Gold AE will now be able to significantly expand the offering in the international gold market by making high valued products easily accessible to a retail base of customers. 

 

“The gold-dispensing machines have been strategically located across the UAE for the convenience of all citizens, and the company still plans to add more machines to better serve their needs in the coming time.  Gold is and always has been an important strategic asset for many generations and we look forward to this venture to allow greater access for the people of the Gulf region.”

 

Thomas Geissler, CEO, Gold to go, said: “We welcome this strategic partnership with Gold AE as we share their vision to continuously provide proficient and reliable trading solutions. The partnership is expected to bring in new prospects that will mutually benefit both companies in terms of business growth and expansion in the Gulf region.” - TradeArabia News Service