Now what is this digital gold and how right is it for you to invest in it. Let’s know this.
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The government is preparing to make hallmarking jewelery mandatory in the country in the coming days. The government had banned the purchase and sale of non-hallmarked jewelery from today i.e. April 1. However, now till June 30, goldsmiths can sell their stock of non-hallmarked jewellery. But if not today then tomorrow this rule will be implemented soon. After this, buying and selling gold will become a bit difficult for both the people. In this case, you can invest in digital gold. Now what is this digital gold and how right is it for you to invest in it. Let’s know this.
What is digital gold?
Buying physical gold has its disadvantages. Apart from understanding its purity, keeping it safe and storing it is also a problem. On the other hand, digital gold can be bought online. It is stored by the seller in insured vaults on behalf of the customer. This also helps in keeping away the mentioned problems related to physical gold. All you need is internet or mobile banking and you can digitally invest in gold from wherever you are at any time.
What are the benefits of investing in Digital Gold?
- You can get physical delivery of gold at your doorstep any time.
- You can also invest in as little as Rs.
- Digital gold can be used as collateral for online loans.
- Digital gold is real and its purity is 99.5 per cent for SafeGold and 999.9 in case of MMTC PAMP.
- Your purchased item is safely stored and is 100% insured.
- You can exchange digital gold for physical jewelery or gold coins and bullion.
What are the disadvantages of investing in digital gold?
- The limit for investing in it on most platforms is Rs 2 lakh.
- There is no presence of any official government regulating body like RBI or SEBI.
- Delivery and making charges are levied on the cost of the gold.
- In some cases, companies offer only a limited storage period, after which you can take delivery of the physical gold or sell the gold.
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