Buying gold on auspicious events is part of the Indian custom. There is a heightened demand for digital gold investments throughout festive durations, primarily pushed by customs and traditions, in addition to the need to commemorate particular events with treasured metals resembling gold.
What is digital gold?
Digital gold is a comparatively new solution to buy gold on-line. It’s a substitute for shopping for the yellow steel in its bodily type. Users can now buy digital gold the place an equal quantity of that’s saved as bodily gold in an insured vault. The minimal quantity one can purchase is as little as one rupee.
On the rise in digital gold investments across the festive season, Yashoraj Tyagi, COO, and CTO at CASHe stated that they supply a easy and user-friendly route, enabling folks to buy, trade, and even give gold with out the issues of dealing with bodily gold. Moreover, festivities typically imply people have extra disposable earnings that they like to spend money on property like gold, aiming to safeguard their monetary stability.
Advantages of digital gold investments
“Digital gold investments provide a number of benefits, resembling a 24K purity assure, minimal charges, straightforward buy via digital fee apps, and safe storage in financial institution vaults. Moreover, digital gold permits for fractional possession, that means you’ll be able to spend money on small quantities of gold, profit from compounding, and provide excessive liquidity, making it extra reasonably priced and versatile,” said Yashoraj Tyagi Unlike physical gold, there are no making charges or recurring annual fees, making it a cost-effective way to own gold.
Digital gold investments: Gifting options best for investors
Investors have several options for investing in digital gold, including Gold ETFs, Gold Mutual Funds, Gold Futures Contracts, and Sovereign Gold Bonds (SGBs). According to Yashoraj Tyagi when it comes to gifting in digital gold investments, there are a few options to consider.
“Firstly, you can choose to gift physical gold vouchers that recipients can redeem for digital gold through designated platforms. Secondly, you could opt for digital gold wallets, which allow recipients to directly own and manage their digital gold holdings. Lastly, you can make a direct purchase of digital gold on behalf of the recipient,” stated Tyagi.
The selection amongst these choices depends upon the recipient’s familiarity with digital platforms, their consolation stage with on-line transactions, and their preferences concerning possessing bodily or digital property. Each choice has its deserves, and your best option varies from individual to individual, he added.
September 2023 pageant calendar
September 2023 options vital festivals resembling Krishna Janmashtami, Hartalika Teej, Ganesh Chaturthi, and Anant Chaturdashi amongst others.
Disclaimer: The views and suggestions made above are these of particular person analysts, and never of Mint. We advise buyers to verify with licensed specialists earlier than taking any funding choices.
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Updated: 01 Sep 2023, 07:10 AM IST
