I want suggestions about digital gold that it is safe for investment or not?
Just buy SGB in the secondary market.
I agree with @MKDan.
I found an article about digital gold. Please go through this and do your own research before you invest.
- 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.
- 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)