Question 1

What is digital gold?

Accepted Answer

Digital gold is a new age investment instrument that allows you to invest in 24k 999 pure gold. It is real gold which is just securely stored in insured vaults for you. The minimum amount you can buy is as low as Rs.10 on Gullak Money. This is certified by the government, hence assures purity & negates the chances of fraud.

Question 2

How is digital gold different from physical gold?

Accepted Answer

Digital Gold is a virtual method of buying & selling Gold online without holding the gold. Digital gold is 24K 999 pure Gold stored in Govt authorized lockers.

Question 3

What is the return on investment on gold?

Accepted Answer

In the last 5 years, gold has shown growth of 80% which is 16% annual returns. Gold returns in last 5 years were 33% higher than Nifty Index as well which showed only 12% annual growth.

Question 4

Where is my saved money being invested?

Accepted Answer

Your money is instantly invested in Digital Gold with Augmont. Augmont is NABL and BIS accredited and a member of India Good Delivery standard on NSE, BSE and MCX. All gold is hallmarked by a government-approved hallmarking agency as per the BIS guidelines.

Question 5

How do you ensure best prices?

Accepted Answer

We partner with Augmont for Gold. At Augmont, the Buy and Sell prices are calculated using wholesale spot market pricing. They pass on the benefits from wholesale market prices to our consumers, making them more competitive than the competition.

Question 6

Why are the buy and sell prices for Digital Gold different?

Accepted Answer

Gold, like any other tradable commodity, has a buy-sell spread (Difference between Prices). This spread is subject to various factors like price volatility, supply, external market conditions, etc. This is why we see a difference of 3-5% in the buy and sell prices of gold. This difference is even higher in the case of jewelry because of the making charges.

Question 7

Is my gold safe?

Accepted Answer

Your gold is completely safe. We use Augmont as our gold provider. Augmont is NABL and BIS accredited and a member of India Good Delivery standard on NSE, BSE and MCX

Question 8

Is digital gold pure?

Accepted Answer

Digital gold purchased on Gullak is provided by Augmont, which is one of the most trusted gold provider of the country and it is accredited by govt. of India. Augmont uses 24K 999 pure Hallmark gold. Gullak also provides a certificate of purity for your purchased gold.

Question 9

Will I get an invoice of gold purchase on Gullak?

Accepted Answer

Yes, you will get the invoice via Augmont

Question 10

Where is my gold stored?

Accepted Answer

Digital Gold is 100% safe and secured in Sequel Vaults monitored by SEBI registered IDBI trusteeship.

Question 11

Is digital gold 24k?

Accepted Answer

Yes, the digital gold we provide is 24K 999 pure Hallmarked gold by Augmont

Question 12

What is augmont?

Accepted Answer

Augmont is our digital gold provider. Augmont Enterprises Private Limited is India's leading state-of-the-art Gold and Silver refinery. it is India's largest fully integrated Gold player. Buying, storage & selling of digital gold on Gullak happens via Augmont.

Question 13

Why should I invest in gold?

Accepted Answer

You should invest in gold because of these reasons- 1. Stable & low risk instrument 2. Diversify your portfolio 3. In the last 5 years, gold has shown growth of 80%. Gold returns in last 5 years were 33% higher than Nifty Index as well which showed only 12% annual growth.

Question 14

Do I need KYC to invest in digital gold?

Accepted Answer

As per the government regulations, KYC is not required if you are purchasing digital Gold less than 30 gms.

Question 15

How to sell gold?

Accepted Answer

To sell gold, go to withdraw section on the home screen. Enter the gms of gold you'd like to withdraw, enter your UPI ID & click on withdraw

Question 16

What is the live gold price?

Accepted Answer

The live price shown is the current market price of gold, exclusive taxes

Question 17

Is the gold pure?

Accepted Answer

Our gold partner, Augmont, is one of the most trusted gold provider of the country and it is accredited by govt. of India. Augmont uses 24K 999 pure Hallmark gold.

Question 18

Is my data safe with Gullak?

Accepted Answer

Gullak ensures that all your data is encrypted & hashed. We use account safeguards, SSL certificates, secured payment gateways by yespay & follow all compliances.

Question 19

Why is there a GST on gold purchase?

Accepted Answer

GST is applicable on all physical, digital, ETF forms of gold. This is in accordance to the CGST acts & GST laws.

Question 20

Is Digital gold better than physical gold?

Accepted Answer

If you're looking to invest, digital gold is the better option. You can own Gold without actually holding physical gold, which eliminates any chances of losing it. The returns on Gold don't vary be it physical or digital & 3% GST is levied during purchase. Digital Gold can also be sold within a few clicks unlike physical gold.

THE HINDU

The Economic Times

The Economic Times