looking forward to the experienced recommendations.
Looks like digital gold is not regulated.
Even the SEBI order says the same.
Do check out other posts in this forum, there is a conversation about this.
You can read this post (there is a mention about digital gold at the end of the thread)
Why do you want to invest in digital gold? As rightly pointed out, it is not a regulated product. Second the impact cost of buying and selling digital gold (on any app) is very high. Because there is not market, you buy at whatever rate app offers and sell back at whatever rate app buys back. This can cost anywhere between 3-5% in impact cost, not very useful.
Depending on your investment horizon and needs, gold ETF or Sovereign gold bonds can be much better options.
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Recently SEBI had raised concerns with brokers and other investment platforms from selling digital gold.
As such NSE also asked its members to stop digital gold
@AdnanAzmi I see you publicizing IIFL digital gold in multiple posts. I hope you understand you are pushing a product which in regulatory grey zone.