Digital Gold has a 6.4% Hidden Expense 😲

Описание: Digital gold comes with it's set of benefits. 24x7 buying and selling, 99.9% gold purity, safety, backed by physical gold, instant redemption etc. With Indians being amongst the biggest consumers of gold, e-gold or digital gold is expected to warm up the investing public. But having said this, there is no free lunch and digital gold takes it's cut with two charges or expenses. The first charge is GST and a 3% GST is charged at the time of purchasing digital gold. As this is government mandated, there is not much to quabble about. The second charge is the bigger concern and pertains to the difference in the buying and selling price of gold. You see, I have tried to buy and sell digital gold at the same time and every single time, there is a difference of 6% to 6.5% between the buying and selling price. This is a serious expense that the digital gold company is charging from consumers which majorly affects the returns of the investor from this product. The eGold company is not upfront about this (obviously) and this is the hidden charge of digital gold.

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Disclaimer: I am not a SEBI registered investment advisor or research analyst. The content posted on this platform is purely for educational purposes and none of it constitutes investing or trading advice. Viewers should do their own research and diligence before investing or acting on the information presented