Dhanteras 2020: Invest in Digital Gold With Paytm, GooglePay & Broker Firms; Know How You Can Invest in Paper Gold
Dhanteras is an auspicious occasion to buy gold. Jewellers offer incentives to lure customers to buy gold and silver coins and other ornaments. This year demand for gold is lower in comparison to past years due to the high price of gold and economic crisis situation caused by the coronavirus pandemic.
Mumbai, November 12: Dhanteras is an auspicious occasion to buy gold. Jewellers offer incentives to lure customers to buy gold and silver coins and other ornaments. This year demand for gold is lower in comparison to past years due to the high price of gold and economic crisis situation caused by the coronavirus pandemic.
In addition to this, the cost of storing gold and making charges also act as a dampener when people come to think of investing in physical gold. Other than investing in physical gold, people can buy the yellow metal either through gold exchange-traded funds (ETFs), gold mutual funds, Sovereign Gold Bonds (SGBs), and digital gold. Gold Price Today on Dhanteras 2020: Rate of Yellow Metal Trades Marginally Higher at Rs 50,339 Per 10 Gram, Silver Up at Rs 62,780 Per Kg.
The digital gold has become a great alternative who was to still invest in it. On top of it, due to the coronavirus outbreak, people are reluctant to visit stores and make any kind of purchases. Sovereign Gold Bonds Open For Subscription Today: Here's How to Apply And All You Need to Know About SGB Scheme 2020-21 Series VIII.
When there is high volatility in the financial markets, gold provides stability to the portfolio. So this Dhanteras, if you are planning to invest in gold, here are some of the options, which you need to look into.
What is Digital Gold?
Digital or paper gold can become a part of their emergency corpus as most of these options have ample liquidity as these can be sold on exchanges anytime.
You can invest in digital gold with as less as Re 1.
How to Invest in Digital Gold?
There are two options to buy gold digitally: 'Digital Gold', offered on the mobile wallet platform Paytm and 'GoldRush' offered by the Stock Holding Corporation of India. Both are offered in association with MMTC - PAMP. People can thus invest in digital gold through various platforms like Kuvera, Groww and others.
Is it safe to Buy Digital Gold?
According to experts, Digital Gold as an investment option is a safe option. Every gram of gold accumulated in your account is backed by actual physical gold.
Sovereign Gold Bonds:
The price of the latest SGB Scheme 2020-21-Series VIII, which opened for subscription on November 9, has been fixed at Rs 5,177 per gram with a Rs 50 per gram discount for an online subscription. This price, therefore, indicates that those who invested at the time of the launch have seen nearly 93 per cent growth during the last five years.
(The above story first appeared on LatestLY on Nov 12, 2020 04:08 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).