Business Standard

Plan to invest in the yellow metal? Digital gold is a cost-effective way

You can buy in small quantities over time and take a physical delivery later

Gold hits five-year high, crosses Rs 33,000 mark on macroeconomic risks

Tinesh Bhasin
After Paytm and PhonePe, now Google Pay is going to offer digital gold through its app. The payment app has partnered MMTC-PAMP India for the offering, according to reports. Digital gold is a convenient and cost-effective way to accumulate the yellow metal for those who prefer it in physical form. Other than the three apps, Motilal Oswal Financial Services and Stock Holding Corporation of India (SHCIL) also offer the product.

One of the problems in holding physical gold is the storage cost. Many prefer to keep it in lockers for safety. Public-sector banks charge upwards of Rs 800 annually for

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First Published: Mar 28 2019 | 10:55 AM IST

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