Quick Answer: Is Paytm Gold Worth Buying?

Why is gold cheaper than buying price?

In grams, you can buy a minimum of 0.0005 grams and a maximum of 50 grams.

b) Selling of gold starts from 0.0005 grams or Rs 1.

e) According to the FAQs section, on any given day, the selling price is lower than buying price because there are certain costs which include taxes, bank charges and others..

Where is the cheapest place to buy gold?

Though buying gold coins from bullion traders is considered as the best and the cheapest option, gold can be bought from jewellers, banks and bullion traders as well. A 24 karat 10 gram gold coin cost actually has 10 gram of 24 karat gold rate along with making charges, mark-up charges and government taxes.

Which gold investment is best?

Based on the market scenario, some of the top gold funds that you can consider investing in are:Axis Gold Fund.Aditya Birla Sun Life Gold Fund.Canara Robeco Gold Savings Fund.HDFC Gold Fund.ICICI Pru Regular Gold Savings Fund.

How safe is digital gold?

Digital Gold is genuine and the purity is 24K 99.5% for SafeGold and 999.9 in case of MMTC PAMP purchases. Your purchase is stored safely and is also 100% insured. You can exchange digital gold for physical jewellery or gold coins and bullion.

Is gold a good investment?

Throughout history, gold has been seen as a special and valuable commodity. Today, owning gold can act as a hedge against inflation and deflation alike, as well as a good portfolio diversifier. As a global store of value, gold can also provide financial cover during geopolitical and macroeconomic uncertainty.

Is it profitable to invest in Paytm gold?

There is not profit in Gold trading. The price is going to stay around 3k/gm for a long time.

Is it good to buy gold from Paytm?

Paytm, India’s leading digital payments and financial services platform in collaboration with MMTC-PAMP provides a safe platform to buy, store and sell digital gold from the safety of your homes. The app offers a cost-effective and smart investment option for new-age investors.

How safe is Paytm gold?

Krishna Hegde, senior vice president, Paytm says “Paytm Gold is stored absolutely free of cost in highly secure vaults of MMTC-PAMP. … This physical gold is stored in a physical locker tagged to the customer till the time it is sold.

Is it safe to buy gold on PhonePe?

Sharma discovered how easy it was to purchase 24K gold safely on PhonePe. … Gold purchased on PhonePe is stored in a free bank-grade insured locker facility maintained by the providers, SafeGold and MMTC-PAMP India Pvt. Ltd. IDBI trusteeship ensures that the Gold cannot leave the locker facility without a proper audit.

When should you buy gold?

Early January, March or April, and late June is when gold and silver tend to be at their lowest prices of the year and are thus good times to buy. The data show that you want to be fully positioned before August. You are likely to get a better price this year than next year.

What is the benefit of Paytm gold?

Your gold will be stored in MMTC PAMP’s secure & 100% insured lockers for free and you will have the power to get your gold delivered whenever you want. With Paytm gold you can get rid of extra charges like making charge, locker fee etc which is required for physical gold.

Why Digital gold is expensive?

This is because the purchase price includes costs related to the transaction like maintaining the platform, processing payments, procuring and selling physical gold, insurance and storage up to five years.

What is the purity of Paytm gold?

99.99 percentPaytm gold offers gold of 24K and of 99.99 percent purity. Step 4: Select the mode of payment you want to use to buy gold. Once the payment is successful, the gold will be added in your locker in the app. a) Minimum amount to buy gold on Paytm starts from Re 1 to maximum of Rs 1.5 lakh.

Can I convert Paytm gold to cash?

You can continue to transact and shop on Paytm and still receive cashback as equivalent “Digital Gold” of the same amount. … Sell your existing Paytm Gold at market prices and get the money credited directly to your Bank account.

How can I buy 24 carat gold?

Pure gold in 24 carat can be obtained online via various banks. Banks like ICICI, HDFC, Axis Bank etc. offer customers an option to procure gold online. Customers just need to login to their online banking accounts, place the order for buying gold and then visit the nearest bank branch to receive their gold coin.

How can I get free gold on Paytm?

Get PayTM Gold Worth Rs.30 For Free :First of all Download PayTM App or Just update your PayTM App. : … Sign up for a new account or just login using your existing Account.Now Go To PayTM Gold Page clicking on First Gold Purchase from PayTM.Go to GOLD option and Buy Rs. … Now Apply The Promo code – FREE30.More items…•

Can I get Paytm cashback without KYC?

Paytm says that all users will continue to receive cashback in their accounts irrespective of their KYC status. However, non-KYC users can not transfer this money to their bank accounts or to any other Paytm users, whereas KYC users will be able to send their cashback to their Bank account.