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Last month Monetary Metals CEO Keith Weiner spoke on a panel at the prestigious 2023 Dubai Precious Metals Conference. As the world grapples with record inflation and escalating debt concerns, Keith presented a new narrative for the role of gold in international finance. Ahmed Bin Sulayem, Executive Chairman and CEO of the DMCC covered the conference for Gulf News, the largest English Newspaper in the UAE.
In a recent interview with Kitco News, Weiner articulated his perspective on why gold is becoming an attractive alternative on the world stage. At the conference, Keith honed in on the unique and timely opportunities available to Dubai specifically, and the drivers behind those changes. While the U.S. dollar continues to remain the world’s reserve currency, Weiner sees an emerging trend where gold gains traction as non-USD currencies struggle on the global stage.
“Gold can, and will, become a monetary asset because the paper currency regime centered on the US dollar is failing.”
The topic of the panel was “Market Trends in Gold Finance, Tokenization, and Beyond.” Weiner outlined a series of steps for gold’s enhanced monetary role. The first step involves countries settling trade imbalances with gold, and moving bullion between nations. Then, he suggests establishing a neutral vault for global reserves, with the possibility of Dubai emerging as the top jurisdiction for such a facility. Digital exchanges, payment transfers, and eventually financing these reserves would follow.
Keith also had the opportunity to discuss Monetary Metals’ Gold Fixed Income products like Gold Leases and Gold Bonds which provide a yield on gold to clients while offering competitive gold-denominated financing to businesses. Monetary Metals has been active in the gulf region. In the last quarter alone, the company completed four leases, two with AGA Bullion in Turkey, one with IGR Metals Trading DMCC, and another with DD Metals DMCC.
“We have proven gold can be a monetary asset, now it’s just a matter of scale.”
About Monetary Metals
Monetary Metals® is Unlocking the Productivity of Gold™ by offering a Yield on Gold, Paid in Gold® to investors, and Gold Financing, Simplified™ to gold-using businesses (mints, miners, refiners, jewelers, etc.). Additionally, the company’s market analysis and proprietary charts, such as the gold forward rate, serve as invaluable resources for gold investors and gold-utilizing businesses across the globe.
