Monetary Metals Announces Agreement with AgaBullion
New Lease Pays 5% Interest on Gold
SCOTTSDALE, Ariz., Sept. 26, 2023 /PRNewswire/ -- Monetary Metals is pleased to announce it has leased gold to AgaBullion, a multi-line, integrated precious metals company headquartered in Istanbul. This is the 52nd lease that Monetary Metals has funded, expanding its international dealmaking footprint to include six countries outside the US.
The lease finances AgaBullion's gold trading operations on the BIST (The Borsa Istanbul Precious Metals Exchange), while Monetary Metals' clients are earning 5% annually on their gold, paid in gold.
Clients Beat Inflation by Earning 5% Interest on Gold
"Demand for this lease was very strong," said Addison Quale, Vice President of Relationship Management for Monetary Metals. "Over 95% of our clients are participating, resulting in a lot of gold on offer for this opportunity."
The lease coincided with Fitch's downgrade of US debt from AAA to AA+, creating an interesting opportunity for investors. "The timing of this lease was auspicious. You could earn a little over 5% on US Treasuries, whose quality has been downgraded twice in the last 20 years. Or you can earn 5% on gold with Monetary Metals. I expect more and more people will choose to earn in gold over dollars as inflation remains high and our gold leases continue to gain widespread appeal," commented Jeff Deist, General Counsel for Monetary Metals.
AgaBullion, a subsidiary of DD Holdings A.S., is a global leader in precious metals solutions, boasting a comprehensive range of services that include assaying, refining, sourcing, bullion trading, e-commerce, logistics, vaulting, and consulting. AGA holds licenses from the Ministry of Treasury and Finance in Turkey and is a proud member of the Turkish Jewelry Exporter Association.
"We are excited to begin this relationship with Monetary Metals, and we look forward to more opportunities to do business together in the very near future," said Mr. Sarp Tarhanaci, Head of the Executive Committee of DD Holding. Mr. Tarhanaci was previously the Founder and Country president of Loomis Turkey. Mr. Gokhan Yılmaz, CEO and Founder of AgaBullion, affirmed, "This agreement, and more broadly our relationship with Monetary Metals, aligns with our plans to continue expanding into precious metals markets worldwide."
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.).
Contact:
Interested members of the press should contact us at: [email protected] or call +646-653-9729
About AgaBullion
AgaBullion is a distinguished bespoke precious metals trading company based in Turkey and serves as the flagship entity of DD Holding A.S. AgaBullion is part of DD Holding A.S.'s extensive portfolio, which includes AGA Digital (e-commerce), Earth and Space (mining), Aleks Metals Refinery (refinery) in Turkey, and DD Metals (trading) in Dubai, UAE. As a member of BIST, AGA utilizes the exchange to trade LBMA gold and provide essential gold reserve management services to central banks and government agencies.
For more information, please contact:
Website: https://www.agabullion.com/
LinkedIn: AGA Bullion
Twitter: @AGABullion
Media Contact:
Ceren Unay, Marketing & Communications Manager AgaBullion Email: [email protected] Phone: +90 212 603 04 81
About AGA Bullion
AGA Bullion is one of the largest precious metals companies in Turkey and offers integrated precious metals solutions including assaying, refining, bullion trading, sourcing, logistics and vaulting services. It is a subsidiary of DD Holding A.S., a multi-line company headquartered in Turkey with operations in Europe, Africa, and Asia. AGA Bullion (trading) is one of three subsidiaries of DD Holding A.S. The others are AGA Digital (e-commerce) and Earth and Space (mining). In addition, AGA Bullion is licensed by the Ministry of Treasury and Finance in Turkey, and is a member of the Borsa Istanbul Precious Metals (BIST) Exchange. AGA uses the BIST to trade LBMA gold, and to provide gold reserve management services to central banks and government agencies.
Contact:
Website: https://www.agabullion.com/
LinkedIn: AGA Bullion
Twitter: @AGABullion
SOURCE Monetary Metals & Co.
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