"Invest online in gold" Upstox launches digital platform for trading in gold

Digital brokerage firm Upstox on January 19 announced the launch of a digital platform for trading in gold, named Upstox Digital Gold.

"Apart from investing in the stock market and mutual funds, Upstox customers can now also invest online in gold," said Upstox, which is also known as RKSV Securities India.

The platform, as per the company, enables customers to buy 24-karat digital gold of 99.9 percent purity at live market rates, updated in real-time on the platform.

The purchased gold can then be converted into physical coins or bars or stored in the vault, Upstox said.

Commenting on the launch, Ravi Kumar, CEO & Co-Founder, Upstox, said: "At Upstox, we believe that everyone must have access to multiple investment options so that they can build a balanced and diversified portfolio."

"We want a greater segment of people to take advantage of the digital gold offering along with stocks, mutual funds, IPOs, NFOs, and other products to maximise ways to build wealth."

Upstox said it has partnered with Augmont, an integrated precious metals management company, that empowers customers to begin investing in digital gold, starting at just Rs 1.