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Can I convert jewellery into digital gold?

By Finserv MARKETS - Aug 9,2019
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Can I convert jewellery into digital gold

Digital Gold has taken India by storm over the last couple of years. Indians have always treasured gold as being the best investment plan, and they continue to buy it the whole year round for a variety of festivals, occasions and ceremonies. Gold is one of the best investments owing to its ability to act as a hedge against inflation. Since it is a precious metal, its price does not fluctuate as frequently or even by as much as those of equity stocks or debts; making it the best investment plan over the long-term.

Digital gold can now be purchased via Finserv MARKETS, which allows for a host of options for utilizing the precious metal. You can buy 24 karat gold, which is Assay certified, for as little as Rs. 100. You can then also sell it, or best, you can have it redeemed in the form of gold bars or coins. The gold will be delivered to your stated address, and you can then use it to make jewellery for yourself and your loved ones.

Since gold jewellery is a matter of pride for Indians especially during occasions such as weddings and festivals, it is important to have enough gold saved up to get the jewellery made. With digital gold, you can easily save up gold over a period of time and have it redeemed anytime you feel you have enough gold.

While traditional gold has long been recognised as the best investment plan, digital gold is even better! Read on to learn about what makes digital gold a better alternative to the traditional manner of buying gold.

1. You don’t need to save up for years to be able to afford it:

With traditional gold, people had to save up for a while before they could afford to buy 100g of gold. Digital gold allows people to buy gold in fragments, which means that digital gold can be purchased bit by bit until enough has been stored up to convert to jewellery. On Finserv MARKETS, you can buy gold for as little as Rs. 100. This gold can then either be sold, or stored for a while and redeemed in the form of gold bars or coins.

2. No storage issues:

Gold, despite being the best investment plan, is difficult to store at home since there’s always the fear of theft or robbery. Instead, people usually rent lockers to store gold. This incurs a substantial charge, which can be completely eliminated in the case of digital gold. Since digital gold is a virtual investment, there is no storage costs associated with it and no mental stress either, regarding its safety.

3. Higher liquidity:

Though gold is a highly liquid commodity, it has its own share of trouble when one is in need of quick cash. For instance, to liquidate physical gold, you would need to visit a jeweller and then also haggle with them to get an accurate resale value for the gold you possess. Through platforms like Finserv MARKETS, you can sell the digital gold in your possession in a matter of minutes. Liquidity of digital gold is thus even higher than physical gold, making it an even better asset than physical gold, which has long been acknowledged as one of the best investments.

4. Greater convenience in trading:

Usually, purchase or sale of gold involves a mandatory visit to your nearest or preferred family jeweller which takes up time that nobody can actually spare. Additionally, you have to hold onto and present bills of purchase to vendors to ensure you get the accurate resale value for the gold you have bought and stored for so long. Digital gold does away with this procedure, and brings in increased convenience in terms of trading the gold you own.

5. No extraneous costs:

When you purchase gold jewellery from a shop, you end up paying a lot more for the making charges of the jewellery. If you plan to add more metals or stones to the jewellery you want made, it gets even more expensive. Buying digital gold online through Finserv MARKETS helps you eliminate all those charges as you are only paying for the price of the gold. Here, you can buy 24karat gold which is Assay certified for as little as Rs. 100.

In India, gold has long been acknowledged as one of the best investments. Today, with the advent of digital gold, the popularity of the precious metal has soared higher than ever. Through Finserv MARKETS, digital gold can be bought or sold completely at your own convenience. You can easily have it redeemed as well, in the form of gold bars or coins, if you wish to get jewellery made out of it.

Finserv MARKETS, from the house of Bajaj Finserv, is an exclusive online supermarket for all your personal and financial needs. We understand that every individual is different and thus when you plan to achieve your life goals or shop for the gadget of your dreams, we believe in helping you Make it Happen in a few simple clicks. Simple and fast loan application processes, seamless, hassle-free claim-settlements, no-cost EMIs, 4 hours product delivery and numerous other benefits. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere!

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522