What is digital gold?

Digital Gold is a new-age way of buying the yellow metal without the need to physically hold the gold. You can buy it conveniently and easily online, sitting in the comfort of your home. The minimum buy or sell value is Rs. 10. You can buy/sell gold, 24x7, including weekends and public holidays. What about the purity of gold and safety?

What is safe gold?

Safe Gold is a product of Digital Gold India Pvt. Ltd. The gold purchased electronically is physical gold. Axis Bank is a provider of payment platform for purchase/sale of digital gold and is not liable for the actual product. What is Digital Gold? Digital Gold is a mode of buying and selling gold digitally, without having to store it physically.

Does digital gold have a purity certificate?

Every unit of digital gold is backed by the purity of 24K (99.5% purity) physical gold. When you redeem digital gold for physical gold, a quality assurance and purity certificate is issued for the same. Digital gold is purchased as an asset, and so it is stored securely in a safety vault under the investor’s name after being covered by insurance.

Is digital gold a lock-in?

While for Digital Gold, there is no such lock-in, it could be sold the very next day. With digital gold, you buy the actual value of gold which is stored in physical form in a vault. Digital gold comes with insurance of the full value invested, unlike SGBs. Digital gold does not attract any cost apart from a one-time levy of 3% GST.