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The savings bank started selling gold bars via mobile phone

Only at Česká spořitelna branches did people buy gold bars in the volume of over half a ton.

According to spokesman Filip Hrubý, Spořitelna is the first bank in the Czech Republic to allow clients to buy gold bars directly in George’s mobile banking. They can choose from four variants weighing 10, 31, 50 and 100 grams. The client will physically pick them up at one of Česká spořitelna’s 12 branches, no later than 50 days from the moment he receives the order to pick them up (via SMS and e-mail). Clients can still buy gold bars in more than 50 branches of Spořitelna.

Gold for half a ton

“Gold is a typical safe haven for investors and its price has risen in the last six months. Last year, our clients bought gold bars in the branches with a total weight of 551 kilograms and given the nature of the ‘store of value’, gold bars can be an interesting shopping opportunity for many clients in the current geopolitically tense situation, ”says Roman Choc, Head of Wealth Management. “Our main goal for 2022 is to digitize investment. The first concrete step this year is the acquisition of physical gold online, which we enable clients to be the first bank in the Czech Republic. By the end of the year, we would like to offer the option of purchasing gold bars in the desktop version of George’s banking, “adds Roman Choc.

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Clients can buy gold bars via the George mobile application on weekdays from 9:30 to 16:00, at the current price at the time. If they would like to buy an ingot outside this time, they can set the maximum price they are willing to pay, and the transaction takes place as soon as trading starts on the next working day. If the current price of gold is higher than the one set by the client, the transaction will not take place.

The price of gold has exceeded this week for the first time in a year and a half $ 2,000 per troy ounce (oz; 31.1 grams). Investors are looking for safety in gold metal as a result of the escalating Russian-Ukrainian war. Other precious metals are also more expensive, such as palladium at the maximum.

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