Is it safe to invest in digital gold?

I want suggestions about digital gold that it is safe for investment or not?

Just buy SGB in the secondary market.

2 Likes

I agree with @MKDan.

I found an article about digital gold. Please go through this and do your own research before you invest.

Benefits of Investing in Digital Gold:

  • You can take physical delivery of the gold at your doorstep.
  • You can invest an amount as low as Re.1.
  • Digital Gold can be used as collateral for online loans.
  • Digital Gold is genuine and the purity is 24K 99.5% for SafeGold and 999.9 in case of MMTC PAMP purchases.
  • Your purchase is stored safely and is also 100% insured.
  • You can exchange digital gold for physical jewellery or gold coins and bullion.

Disadvantages of Investing in Digital Gold:

  • Limit of Rs.2 lakhs for investment on most platforms.
  • Lack of an official government-run regulating body such as RBI or SEBI.
  • Delivery and making charges are further applied to the price of gold.
  • In some cases, companies only offer a limited storage period, after which you either have to take physical delivery or sell the gold.

copied from financial express (nov 8 2020)

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I think it is. You get to put your money in 24K pure gold and the good thing is that you don’t have to worry about losing it. You won’t even have to pay for the making and wastage charges. It’s pure gold that you put your money in.

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Of course, it is! If possible, put your money in gold bonds as they are backed by the government and you won’t have to be worried about your money.