May 14, 2021
Akshaya Tritiya is known to be an auspicious day that brings good luck and success. According to Hindu mythology, on this day the Treta Yuga began and the river Ganges, the most sacred river of India, descended to the earth from heaven. The word “Akshaya” means never diminishing, which means any action you do will result in a positive or constructive outcome. In simple terms any new initiative/venture started on this day will have a good future. Customs and traditions are extremely important to Indians. Many people in India believe that if they start with some activity on ‘Muhurat’ then that will fructify. There is a belief that buying gold on the auspicious day of Akshaya Tritiya, brings prosperity to the buyer and his wealth never gets eroded. Gold is a symbol of wealth. This Year Akshaya Tritya falls on 14-May-2021 and we might witness a spurt in gold demand.
There is no perfect mathematical relationship or proven trend showing that buying Gold on Akshaya Tritiya or Diwali will result in sure-shot gains. However, if you buy at lower prices on normal days, it is most probably likely to appreciate on special occasion such as Akshaya Tritya and Diwali. Investing in gold on the day of Akshaya Tritiya may seem to be rewarding. We have seen gold prices multiplying many folds over the last decade. In the past 15 years, there have been only four occasions where gold prices were lower as compared to the previous year, on the day of Akshaya Tritiya.
Ways to Invest in Gold in India?
Well historically the most common way to invest in Gold has been to buy physical gold in the form of: Coins; Bullion and Jewellery. Apart from that, we have Sovereign Gold Bonds, Gold Mutual Funds and Gold ETFs to choose in Digital form. But during a pandemic, another method of investing in Gold that has been gaining immense popularity is in the form of Digital Gold.
What is Digital Gold?
Buying physical gold certainly has its downsides. There are issues of identifying its legitimacy and purity, then there are problems of safekeeping and storage. One more issue is that we are in the midst of a pandemic. It is not quite ideal to go out to gold dealers or jewellery stores.
Digital gold, on the other hand, can be bought online and is stored in insured vaults by the seller on behalf of the customer. It also helps us overcome all the aforementioned issues of physical gold purchases. All you require is Internet/mobile banking and you can invest in gold digitally anytime, anywhere.
How to trade in digital gold?
You can easily buy gold online from Augmont.com website or you can also download the app ‘Gold For All’ by Augmont – India’s most trusted digital gold provider. Once you’re logged in and filled in all the details, perform the following steps –
- Enter the amount you want to spend on buying gold or you can mention the quantity of gold (in grams).
- Choose your payment options from Netbanking, UPI, Credit/Debit Cards, Wallet to Cash payment
- Once the payment is done the account you are using will be credited with the gold in vaults backed by IDBI Trusteeship Services and can be accessible 24/7
- Calculating the live market price you can sell your gold whenever you want and gain profit.
- You can also convert your digital gold into physical form and get it delivered to your doorstep without you going out.
Benefits of Investing in Digital Gold:
- Gold can be bought or withdrawn online 24 hours a day, 7 days a week, and 365 days a year.
- You can take physical delivery of the gold at your doorstep.
- You can invest an amount as low as Re.1.
- Digital Gold can be used as collateral for online loans.
- Digital Gold is genuine and the purity is 24K 99.5%
- Your purchase is stored safely and is also 100% insured.
- You can exchange digital gold for physical jewellery or gold coins and bullion.
Disadvantages of Investing in Digital Gold:
- Limit of Rs.2 lakhs for investment on most platforms.
- Lack of an official government-run regulating body such as RBI or SEBI.
- Delivery and making charges are further applied to the price of gold.
- In some cases, companies only offer a limited storage period, after which you either have to take physical delivery or sell the gold.
Why should we go for DigitalGold?
DigiGold as you know is the new way of buying Gold, below are some reasons why you should go for DigiGold:
- Eliminating Storage & Security Concerns: The best part about Digital Gold is that you own it and only you know it. You no longer have to worry about getting a bank locker or buying safe at home to protect your wealth.
- Purity: Buying physical precious metals is safe but if you fear about purity then Digital Gold is here to take away all your fear and to replace that fear with Gold, how does that sound? Stop fearing and enjoy the Gold buying experience.
- Buying/Selling as per your convenience: Time is valuable and we value it the same way you value it, thinking about this we have integrated Digital Gold because you can buy it whenever you feel like investing, if you wish to liquidate/sell you can easily do so.
Can we use DigiGold for gifting?
Absolutely! Imagine waking up to a notification saying “You have been gifted Gold”, DigiGold has made an easier option for gifting. Simply enter the details of the recipient and the amount of Gold that is to be gifted. The recipient does not already have an account then he/she will need to create an account to claim the gift.
Where can you find invoice for each order?
An invoice will be sent by SMS/Email after each transaction. It will also be available in the My Order’s section on the customer’s dashboard.
Where is the Gold stored when a customer purchases it?
The gold purchased by a customer will be stored with a reputed custodian on a consolidated basis i.e. daily purchase across all the customers. Vaults are monitored and controlled by IDBI Trusteeship Services Limited. The trustee will confirm the balances with the custodian each quarter and reconcile the amounts with customer’s balances.