Gold Investment Account
Introducing the Emirates NBD Gold Investment Account, the first of its kind in the UAE.
Simply open the account using our Internet Banking.
This account is similar to any other foreign currency account, is designated with the currency code XAU, and is denominated in ounces. This reflects how gold is traded internationally. Since the gold is held electronically, you won't be subject to the inherent hassles and risks of storing and moving physical gold.
Easy steps for investing in your Gold Account (XAU)
- Open your XAU Account - Existing Emirates NBD customers can simply open an account by filling out the account opening form available at the nearest Priority centre
- Decide the quantity (ounces) of gold or amount you would like to invest. You can start your gold savings by setting up a standing instruction on your AED or USD accounts to buy small units of gold every month in the form of a Systematic Investment Plan (SIPs), starting from AED 1,000 per month
- Transfer requisite funds from your AED or USD account into your XAU account according to the prevailing gold rate via Internet Banking or at any of our branches
- Book your preferential rates deal - if you are investing USD 10,000 or more you can avail of special gold rates by calling your Relationship Manager
- Regular account statements will be issued showing holdings in ounces (oz)
- Gold is traded internationally as XAU currency, in troy ounces (oz). The balance on your account is reflected in (oz)
- The Gold units can only be sold back to the Bank. Physical delivery of the Gold against bank account holdings is not allowed
- FX rates sheet will show conversion rates for Gold (XAU) on daily basis
- As earnings are dependent on the gold price, interest is not paid in this account
- As all transactions on your Gold Account are electronic, cheque books and ATM cards are not issued
- Depositing or withdrawing cash straight from this account is not permissible