Why digital gold investment is on rise ahead of festival season?
gold on auspicious occasions is a part of the Indian tradition. There is a heightened demand for digital gold investments during festive periods, primarily driven by customs and traditions, as well as the desire to commemorate special occasions with precious metals such as gold. Digital gold is a relatively new way to purchase gold online.
It’s an alternative to buying the yellow metal in its physical form. Users can now purchase digital gold where an equivalent amount of that is kept as physical gold in an insured vault. The minimum amount one can buy is as low as one rupee.
On the rise in digital gold investments around the festive season, Yashoraj Tyagi, COO, and CTO at CASHe said that they provide a simple and user-friendly route, enabling people to purchase, exchange, and even give gold without the complications of handling physical gold. Moreover, festivities often mean individuals have more disposable income that they prefer to invest in assets like gold, aiming to safeguard their financial stability. “Digital gold investments offer several advantages, such as a 24K purity guarantee, minimal fees, easy purchase through digital payment apps, and secure storage in bank vaults.
Moreover, digital gold allows for fractional ownership, meaning you can invest in small amounts of gold, benefit from compounding, and offer high liquidity, making it more affordable and flexible," said Yashoraj Tyagi Unlike physical gold, there are no making charges or recurring annual fees, making it a cost-effective way to own gold. Investors have several options for investing in digital gold, including Gold ETFs, Gold Mutual Funds, Gold Futures Contracts, and Sovereign Gold Bonds (SGBs). According to Yashoraj Tyagi when it comes to gifting
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