Dubai residents can now have 24-carat gold coins delivered straight to their doors in under an hour, thanks to a new service launched by the Careem app. This initiative, targeting millions of Indian expatriates in the UAE, allows users to buy physical gold worth up to 10,000 dirhams (US$2,700) in a single order.
Careem Technologies, a Dubai-based spin-off from Uber’s Middle Eastern subsidiary, has partnered with Tanishq, the flagship brand of India’s largest jeweller, Titan Co., to supply and certify the gold.
The service launch coincides with the Hindu festival of Akshaya Tritiya, a time when buying gold is considered particularly auspicious. This adds a cultural significance to the service, especially since Indians make up about a third of the UAE’s population.
Gold prices have surged by 25% this year, with the precious metal reaching a record high of US$3,500 an ounce last week. The price increase has been driven by growing economic uncertainty, with investors turning to gold as a safe haven amid the expanding trade war.
Careem, an all-in-one app offering services ranging from food deliveries to car rentals and home cleaning, is positioning itself as a convenient solution for both practical and luxury needs, now including the delivery of precious metals.
