Indian residents can now buy gold and silver bullion online with BullionVault
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Published Wednesday, October 18, As India prepares to celebrate Diwali, the Festival of Lights, this week, the yellow metal which we all know as gold is really shining - and for the right reasons. The trading is now open for investors to trade in 1kg gold.
In order to popularise the platform, transaction fees on the product have been waived until December Trading began on October 17, the day which is celebrated as Dhanteras. As a festival of wealth and prosperity, Dhanteras is considered an auspicious day to buy gold and Dhanteras is followed by Diwali. Other glittering offers were unveiled. StockHolding, jointly promoted by banks and financial institutions, announced the launch of GoldRush this Diwali.
GoldRush carries the promise of being a cost-effective means of owning physical gold in quantities to suit all budgets. Customers need to open a metal account MMTC-PAMP India and their gold would be set aside in an allocated enclosure within the vault, complete with insurance cover and security. Consumers can buy gold online anytime and accumulate it even in small fractions.
When consumers decide to withdraw the gold, it will happen at real-time prices and will be delivered to their doorstep.
Effectively, GoldRush is a gold buying and storage solution, along with a withdrawal facility. As the name indicates, it is an electronic means of storing the gold, which is owned by the investor. Here, investors store gold in a digitised format that can be traded on the stock exchange like the gold online trading in india which happens on other stocks and commodities.
Besides that, the overall gold jewellery sales have increased during this Diwali season. This can be gold online trading in india to the fact that earlier in the month the Indian authorities had withdrawn the amendment to the Prevention of the Money Laundering Act PMLA due to which jewellers were subject to anti-money laundering legislation.
As a result, the Diwali festivities has triggered new gold purchases to such an extent that the price of the yellow metal gold online trading in india at a premium this week, its highest level in the last three months.
Moving beyond the glitter of gold, the auto industry seems to have switched gears and is moving on to a different track this Diwali.
The journey seems to be less explored largely because the Goods and Services Tax GST Council had announced cuts in taxes of various items that come under the purview of the new indirect tax. Understandably, a tax cut is being awaited on passenger vehicles, too. This announcement was made on October 6, Looking back, the car sales figure, which gold online trading in india during the Dussehra festival last month, has somewhat remained flat and has not picked up this month as it normally does during Diwali.
Meanwhile, car dealers have ended up with a build-up of inventory at their dealerships. As a natural consequence, car companies and dealers gold online trading in india going that extra mile to woo customers with a basket of offerings, including extended warranty schemes, accessories and freebies like assured gold online trading in india on every purchase. Usually, the gold online trading in india is in the form of gold coins.
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