How to Invest in Gold Online
Gold has traditionally been bought as ornaments, coins, or bars. Modern investment options include gold-backed ETFs and sovereign gold bonds. Digital gold is a convenient way to invest in gold online, offering flexibility and security without the hassle of physical gold.
What is Digital Gold?
Digital gold lets you buy pure gold online with a small amount. Safety and authenticity are guaranteed by 24-Karat physical gold in a vault. Digital gold eliminates purity, storage, and security concerns. You can save gold and redeem it as cash or gold.
A few authorised Indian companies sell digital gold: MMTC-PAMP, Augmont Gold, and Digital Gold India Pvt. Ltd. These companies guarantee gold purity and weight, making digital gold a safe investment.
How to Buy Gold Online?
Investing in digital gold is easy. Starting at ₹100 allows for gradual growth of your gold holdings. The gold you buy is vaulted and tracked in real time. When ready, you can exchange digital gold for physical gold or sell it to the vendor at market price.
For digital gold, use Paytm, Google Pay, or Amazon Pay, which partner with MMTC-PAMP. The process is like buying gold, but online and cheaper.
Features and Benefits of Digital Gold
- Minimum Investment: You can start investing with as little as ₹1.
- High Purity: Digital gold is offered in 24-Karat purity, ensuring quality.
- Secure Storage: The physical gold is stored safely by the vendor, with no storage fees for a specified period.
- Real-Time Pricing: Prices are determined based on real-time market rates, allowing for transparent transactions.
- Easy Redemption: You can redeem digital gold for physical gold or sell it back to the vendor at any time.
- No DEMAT Account Required: You can buy and sell digital gold without needing a DEMAT account.
Digital gold offers significant flexibility, allowing you to grow your investment incrementally. It removes the barriers traditionally associated with gold investment, making it accessible to small retail investors as well as larger players.
How to Buy, Sell, and Redeem Digital Gold
Digital gold buying, selling, and redemption are easy. Registering with a digital gold platform requires your name, address, and PAN. After registration, select the amount and pay online to buy gold. Selling gold and getting cash back is easy too. Redemption lets you exchange digital gold for coins, bars, or jewellery.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.