Getting to know about investing in Digital Gold

By March 18, 2021 Money Matters

Sourced with thanks from financialexpress.com

Indians love gold and that’s no secret. And it’s being used increasingly as an investment and not just for using it as jewellery. Digital gold has become a very convenient way to invest in gold even for the smallest of investors. No wonder that platforms offering digital gold are seeing a significant surge in business. In the article below the author has attempted to familiarise yourself with digital gold investing in India. Happy investing. Team RetyrSmart

Getting to know about investing in Digital Gold

Portfolio diversification is the need of the hour for a modern-day investor and digital gold is one of the growing popular options to consider. Diversification is not a one-time practice but a constant process that investors should follow, and take into consideration all financial goals and ongoing situations to build a suitable portfolio.

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Historically, gold is known to give high returns and has been one of the best-performing asset classes for years. With a number of online platforms and stock brokers offering digital gold today, purchasing gold online is just a few clicks away.

Here is a quick guide to acquaint you with digital gold investing in India. Read on!

Where to buy: Digital gold is sold by authorized vendors or producers which have partnerships with various banks, broking firms and fintech companies, that are intermediaries between the buyer and the seller. However, before purchasing Digital Gold from a platform, ensure that you check the features like purity of gold, hallmarking, refund policy and the vendor.

Transparency & real-time updates: With easy internet access, investors are able to buy Digital Gold at real-time market rates. Any changes in gold pricing in the market are almost immediately reflected on these platforms, allowing the buyer to make an informed decision.

Making & delivery charges: The biggest advantage of Digital Gold is that it is devoid of making charges, which means the customer bears only the cost of gold at the time of purchase. However, after the completion of the investment period or when the investor decides to sell the digital gold, delivery and making charges will be incurred, just like physical gold.

Tax on digital gold: When a customer buys Digital Gold, a 3% goods and services tax (GST) is levied. Also, gains from digital gold are taxed just like physical gold, gold mutual funds or gold ETFs.

Digital Gold provides both affordability and accessibility, and anyone with a smartphone can purchase gold online for as low as Rs 1 . So, what’s holding you back? Take the first step of investing in Digital Gold today!

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