FAQ on Digital Gold Investment.
In this FAQ, we will understand All about Digital Gold Investment and Is Digital Gold a Good Investment Option? Is it Better than Investment in Real Gold?
What is Digital Gold?
Digital Gold is a way of buying physical gold without needing to physically hold real gold.
It combines the convenience and speed of the internet with the safety of a SEBI registered Trustee, and offers more security than traditional real gold. The physical gold is stored safely for you in digital vaults.
What about the Quality and Authenticity of Digital Gold sold on Online Platform?
Digital Platform like SafeGold offers 24 Karat Gold of 995 fineness (99.5% Pure) or higher. SafeGold
sources “Good Delivery” bars from trusted sources for the digital gold offered to investors. The gold is independently tested periodically.
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What is SafeGold?
SafeGold is a product of Digital Gold India Private Limited- an institutionally owned company, with investment from Beenext Ventures, Pravega Ventures and the World Gold Council.
What is the role of Financial Institutions and Banks that sell Digital Gold as Investment Option?
Financial Institutions and Banks that sell Digital Gold as Investment Option are simply providers of payment platform for online sale and purchase of digital gold offered by SafeGold. These platforms do not take any liability of the actual product offered by SafeGold.
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What is the Minimum Investment in Digital Gold?
The minimum investment (buy or sell) value is Rs. 1. You can buy or sell, 24×7, including weekends and public holidays.
Is there is a Limit to the Amount / Quantity of Gold one can Buy ore Sell?
No, there is no upper limit to the amount or quantity of gold an investor can buy or sell.
How does the Real Gold get Delivered to Me?
You can request for all or part of your gold holding, from 0.5 gm (and multiples thereof). You can select the denomination of the gold you wish to withdraw from the available options of coins.
REMEMBER that each coin will have different making charges, based on the weight and design of the coin. You must confirm the transaction by paying the additional making and delivery charge.
Your gold product will be delivered at your notified address by a logistics provider arranged by the Company, and you will receive a confirmation on your registered mobile number. You will also receive a dispatch confirmation and the waybill number of the courier company which will allow you track your package online.
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Are there any Delivery Charges?
Yes, you are required to pay a minting charge at the time of requesting for delivery. The company delivers your gold to you in the form of BIS hallmarked coins, in tamper evident packaging, using secure logistics providers. The charge covers the cost of minting, packaging, insurance, assay certification and delivery.
SafeGold delivers all across India, through partnerships with secure logistics providers. They maintain a list of serviceable pin codes, and prior to making any purchase you will be informed whether your pin code is serviceable for delivery or not.
Is SIP available in Digital Gold Investment?
Yes, you can invest in Digital Gold via SIP with a minimum amount of Rs. 500.
Digital Gold Investment
Is digital gold good investment?
Yes, Digital Gold is a Good Investment. There is not need to bother about storage or theft. It is stored is secure vaults and are fully safe. You don't even need a Locker to store your Gold for safety.
Over time, you get value appreciation of your Gold.
How can I invest in gold digitally?
You can invest in Digital Gold same as Mutual Fund. You can buy with Lump Sum Amount or Invest Via SIP.
Most Banks offer this service. Just login into your Internet Banking, Go to the "Investment" Section and Start Investing Immediately.
Also there are companies like SafeGold and MMTC-PAMP where you can start investing in gold digitally.
Is digital gold better than real gold?
Digital Gold is actually Real Gold, held in secure vaults. You can get delivery of your physical Gold whenever you want.
Digital Gold is better than physical gold because there is no need to bother about storage and you get the advantage of Liquidity, which means that you can sell your Digital Gold whenever you want at prevailing market rates.
Physical gold, on the other hand is not easy to store or sell whenever you need the money.
Is digital gold good for long term investment?
Yes, digital gold is good for long term investment because:
- You don't have to pay any GST on Lump Sum or SIP Investment on Digital Gold;
- Investors don't have to pay making charge every time;
- Investors earn value appreciation over the investment;
- You don't have to pay for any Locker to store your Gold.
What are SGBs?
SGBs (Sovereign Gold Bond) are government securities denominated in grams of gold. SGBs are safer and better substitutes for physical gold.
In India, the Bond is issued by RBI on behalf of Government of India.
Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity.
Conclusion
I hope now you know all about Digital Gold Investment and Is Digital Gold a Good Investment or Not.
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