InvestorQ : Which digital platforms are providing the facility of buying the gold & can be converted into physical gold?
Niharika Kamble made post

Which digital platforms are providing the facility of buying the gold & can be converted into physical gold?

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shivangi Arora answered.
1 month ago
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You can buy e-gold through National Stock Exchange Limited (NSEL). To invest through NSEL, one should have a trading account with them. So, you need to have a de-mat account with any of the brokers like IIFL Securities, 5 paise, etc. Once you open your account, you can begin by purchasing gold units and collecting them in your de-mat account. In case you want physical delivery of gold, you can redeem e-gold units lying in your de-mat account.

However, to invest in gold ETFs, you do not need any de-mat account, and you could invest directly through any Asset Management Company (AMC), just like a mutual fund.

Recently, IIFL (https://www.indiainfoline.com/digitalgold/?utm_source=InvestorQ) has also launched a digital gold investment option on its desktop platform and on the mobile app in partnership with SafeGold. Now, IIFL customers could be able to buy digital gold at one click just like they do for mutual funds, stocks, etc.

IIFL will offer 24 Karat Pure gold on its platform. There are several other brokers who are offering digital gold investments like Groww, Upstox, etc. However, these are some new broking firms in the market and might face some resistance from the users considering them less trustworthy.

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