InvestorQ : Can I buy digital gold also in instalments like doing a SIP on mutual funds in small amounts?
Neelam Naik made post

Can I buy digital gold also in instalments like doing a SIP on mutual funds in small amounts?

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Priyanka N answered.
2 years ago
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Financial intermediaries like select brokers as well as banks and even Paytm are allowing you to do a GSP on digital gold. This is similar to an SIP on mutual funds where you invest in tranches. This has two advantages. Firstly, instead of investing Rs.50,000 in lump-sum, you can invest around Rs.4,000 each month. This is a useful concept if you want to plan for your child’s future or to gift gold jewellery to your near and dear ones. Secondly, there is also the added advantage for you to capture price fluctuations and get a better average purchase price. Digital gold can be bought and sold transparently at the prevailing market price and that is an added advantage to your Digital Gold SIP. The process is entirely online and after the basic KYC is done, you can automatically buy and sell gold from your PC or even your mobile phone.

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