Gold, the most talked about precious metal, can be bought through various routes such as Paytm, Phonepe, and under the Gold Rush plan of Stock Holding Corporation of India. One can buy gold under these options either in association with MMTC-PAMP or SafeGold or both.
Here's a look at the digital gold schemes and how they work. If one wishes to buy gold without worrying about safe keeping of the metal, he/she can opt for MMTC-PAMP's gold accumulation plan. Under the route, gold worth Rs 1,000 and in multiple thereof can be purchased. There is no obligation to make any fixed or periodic payments.
Gold purchased under the MMTC-PAMP's gold accumulation plan is kept separately within the MMTC-PAMP vault with full insurance cover and security.
L&T, Godrej Consumer, Axis Bank stocks among top picks for Diwali
Another safe option to buy, sell and take delivery of 24k physical gold through digital route is SafeGold. The transactions are carried out in low ticket sizes, around the clock, with the tap of a button. One should open a metal account to take this gold buying route after completing the registration process.
Dhanteras 2020: Gold jewellery sales likely to record 35% jump over last year
The purity of physical gold is .9999. Stock Holding Corporation of India, which is India's leading securities provider, operates the GAP under the name "GoldRush". MMTC-PAMP provides back office support and the entire metal availability including posting gold prices, its physical storage and delivery.