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digital gold
  • Digital Gold Price: Understanding the Market & Fluctuations

  • Published By:
  • Category: Finance
  • Published Date: August 13, 2022
  • Modified Date: August 13, 2022
  • Reading Time: 5 Minutes

Featured Image Caption: Digital Gold

The virtual investment in gold is known as digital gold. DIgital gold is safer and less expensive than physical gold, ensuring that your gold reserves can always be used to generate cash during financial emergencies.

Digital gold can be bought in small quantities for much less than physical gold, which requires large purchases at a jeweler’s. In addition, trading in Digital Gold has made the buy/sell method even more effortless & flexible since you can stay updated on gold prices in real-time via your E-Swarna account. Begin purchasing Digital Gold for Rs. 100 on E-Swarna today and make the most of your investment.

What is the cost of Digital Gold?

The price of Digital Gold that E-Swarna offers is determined by the open market price of gold on the global market.

You can invest in Digital Gold by purchasing gold in certain quantity: E-Swarna provides gold prices based on 99.99 percent fine gold, the purest form of gold on the market.

Why buy Digital Gold from e-Swarna?

  • Pricing: Digi Gold prices are comparable.
  • Flexibility: There is no lock-in period, and the buyer has no control over the investments.
  • Purity: Comes with 24 Karat.
  • Security: Because e-gold is stored in secure vaults, there is no need to be concerned about security.
  • Accessibility: 24-hour access from anywhere.
  • Liquidity: It is simple to sell or gift.

Why are Investments in Digital Gold trending?

Purchasing Digital Gold is a low-cost way to invest in gold, and then you can easily be bought it for cash when you need it. Investors concerned about gold’s price should consider investing in digital gold. It is also an excellent way to diversify and reduce risk in your portfolio. Digital gold allows you to buy and sell gold quickly and easily, and it is much cheaper than gold bars or coins. In addition, you can monitor the gold price through your E-Swarna account, making it simple to sell when the price of gold rises.

The US Federal Reserve’s monetary policy & interest rates have a direct impact on the growth of global gold markets. Interest rates are expected to rise in 2022, potentially causing gold prices to fall. Gold prices rose only marginally in the first half of the year, but they remained higher than during the Covid-19 crisis in 2020.

Factors that can Fluctuate the Gold Prices in the market

Several factors determine the gold rate in India because India is such a large consumer of gold, any change in the international market causes a change in the price of gold.

In this section, we will look at the top five factors that influence the gold rate in India.

Inflation

Inflation is one of the characteristics of gold is that its value is relatively stable, much more so when compared to currency. This is one of the reasons why many investors prefer to hold gold rather than currency. When the rate of inflation rises, so is the demand for gold; when inflation falls, so is the demand. The same is true for global inflation.

Downfall in Dollar’s value

The Dollar and gold have an inverse relationship in general. Because the Dollar dominates international gold, when the currency weakens, the price of gold rises, and vice versa.

This is because investors begin to look for alternative ways to store value, and gold is one of those options.

When the value of the US dollar rises relative to other currencies, the price of gold tends to fall. This occurs because gold becomes more expensive in other currencies, and as its price rises, fewer people tend to purchase it, resulting in a decrease in demand. However, as the value of the US dollar falls, gold becomes less expensive in other currencies around the world.

Trends in Interest Rates

Gold demand is closely linked to interest rates on financial products and services. Therefore, the current gold prices are a good indicator of the country’s interest-rate trends. When the rate of interest rises, customers tend to sell gold to gain cash value, increasing the supply of gold and lowering its price. Furthermore, online gold is now very simple to buy and sell.

When interest rates are low, customers have more cash on hand, which could lead to increased demand for the precious metal, resulting in a price increase, As a result, money lenders in India have been known to be gold hoarders.

They could easily purchase gold, among other things, with all the accumulated interest in their lockers.

Weather Conditions

The rural demand for gold is another factor influencing India’s gold rate. The monsoon has the greatest influence on rural gold demand. Rural India accounts for 60% of annual gold consumption, estimated to be 800-850 tonnes. Farmers tend to buy more gold if the crop is good to increase their assets. A bad monsoon season, on the other hand, leads to a decrease in gold purchases.

Steps to purchase Digital Gold

  1. Visit our E-Swarna website through which you want to trade.
  2. Verify the current market rate per gram of gold displayed on the apps. Enter a monetary value in INR or grams.
  3. Opt ahead for the payment.
  4. The gold will now be placed in a safe for you. The new status will appear on your screen immediately. You can access your account/digital locker at any time.
  5. You can sell the gold at any time.
  6. You can also have the physical gold delivered to your home. Gold is distributed in the form of coins or bullion, we ensure that physical gold is delivered on time.

Summary

Digital Gold is a risk-free and straightforward way to diversify your portfolio. It is also a great way to protect your assets because they can be sold and converted into cash at any time. However, it is critical to remember that various factors can influence the price of gold. Investing in Digital Gold, on the other hand, is an excellent way to maximize the value of your gold investment.

By Shivam Joy Gala
– I am finance expert at eswarna I write articles on digital gold and gold sip.

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