About Digital Gold

Digital Gold is the new-age investment instrument, that is changing how gold is traded throughout the country. Not only does Digital Gold save time and hassle of visiting the jeweller’s and haggling over gold prices, but it also makes processes a whole lot faster and easier. Buying, selling and redeeming digital gold on Finserv MARKETS involves a much more transparent process than purchase and sale of gold used to be. With the investor empowered to log onto the Customer Portal at any time, review market prices and then take informed decisions on whether to buy or sell gold; the entire process achieves seamlessness that was previously unthought of. 

Physical Gold vs Digital Gold

Gold has long been the preferred investment instrument of choice, for both new as well as seasoned investors. Here’s where Digital Gold scores over Physical Gold, as was traditionally bought.

  • Lesser Investment: Buying gold traditionally involved going to a jeweller’s, picking out a design and then having your gold designed. This involved an enormous cost, a significant portion of which was dedicated to paying jeweller’s costs and the making charges of the jewellery. Now, with Digital Gold, you can purchase just a few grams on Finserv MARKETS for as little as Rs. 100.

  • Save costs on storage: Buying Digital Gold on Finserv MARKETS provides alongside it storage facilities for a period of 5 years. This ensures that you do not have to rent out a locker and pay monthly rent on keeping your gold secure.

  • Purity guaranteed: Digital Gold bought on Finserv MARKETS, is Assay certified to be 99.5% pure. This saves time at the jeweller’s, where you must verify the value of the metal being bought and how much you should pay for it.

  • Easy Liquidity: Gold’s appeal as an investment instrument lies in the easy liquidity it provides to investors. With Digital Gold, purchased on Finserv MARKETS, liquidity can be achieved even sooner than before. You need only log onto your Customer Portal, sell the Digital Gold accumulated in your online account and have the payment directly credited to your bank account.

  • Faster access to Physical Gold: When purchasing physical gold, it is mandatory to review a couple of jewellers and stores before you finally settle on one that is reliable. When you invest in Digital Gold on Finserv MARKETS, it is actually backed up by physical gold located in vaults. Any time you wish to access the gold in a physical manner, you can always have it redeemed in a matter of a few minutes.

How much to invest in Digital Gold

Gold has been valuable for thousands of years. Since the time it was used as currency by rulers, gold has always held a prominent spot among precious metals. Investors favour gold because its value remains constant. Of course, fluctuations in its price are expected from time to time; however, in the long run, the value of gold is expected to act as a hedge against inflation and adverse economic conditions.

Most investors mandate investing in gold to diversify the portfolio which is put together to achieve long-term goals. The price of gold moves in the opposite direction to that of the equity market, which makes gold a good investment to hold onto when the market is otherwise facing a dip. Investing in gold helps balance your portfolio, and can partially protect you from the effects of adverse market events.

Buying, Selling and Redeeming Digital Gold

Buying, selling and redeeming of Digital Gold achieves a never-before simplicity on Finserv MARKETS. Register yourself on the portal by providing basic details, including mobile number and email address. Once you are registered on the Customer Portal, you can easily view market prices for Digital Gold and sell and buy gold with the click of a few buttons. You can also choose to redeem the gold, if you wish, either as coins or bars and have it delivered to your doorstep. Read on to learn how.

Buying Digital Gold:

Step 1 - Log onto the Customer Portal. Head to purchase of gold. Select whether you wish to buy gold in grams or INR.

Step 2 - Once you have decided how much gold you want, complete your payment and you’re done.

Selling Digital Gold:

Step 1 - Log onto the Customer Portal for Finserv MARKETS. Enter the amount of gold you wish to sell.

Step 2 - Enter your bank account details, and the money will be credited to that account.

Redeeming Digital Gold:

Step 1 - Log onto the Customer Portal. Choose whether you wish to redeem the gold as bars or coins. Based on how much you wish to redeem, you may be required to select multiple units. Add the amount to your cart.

Step 2 - You will be prompted to review the minting and delivery charges for redeeming your Digital Gold.

Step 3 - Confirm your delivery address, so the physical gold can be sent directly to your doorstep.

Step 4 - Proceed to pay the charges of having your gold redeemed. The amount of gold you have redeemed will be deducted from your online account.

Frequently Asked Questions

Q. Is there a change in price if I buy and sell gold on the same day?

A. The price of gold when sold is always lesser than the price it has been purchased for. This is owing to the incidence of customs duty, foreign exchange conversion and other relevant taxes and processing fees that are added to the purchase of gold. With market prices being updated in real time on Finserv MARKETS, you can keep a vigilant eye on them and decide when you should buy or sell gold.

Q. What happens once I sell my Digital Gold?

A. Based on your preferences, the payment for sale of your Digital Gold is credited to either your bank account or to a payment wallet listed with us. You can use the money for transactions including further purchase of Digital Gold, or for any other transaction you deem fit.

Q. What KYC documents must I submit to trade in Digital Gold?

A. For trading in gold on Finserv MARKETS, you must provide your name, registered mobile number and the PIN Code of the city where the gold purchase is initiated. If a single transaction amounts to Rs. 2 lakh or more, you will be asked for your PAN card details.

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