This allows our sites to recognize your device from those of other users on our sites. The other tracking technologies work similarly to cookies and place small data files on your devices or monitor your website activity to enable us to collect information about how you use our sites. What are Cookies and Other Tracking Technologies?Ī cookie is a small text file that can be stored on and accessed from your device when you visit one of our sites, to the extent you agree. This cookie policy should be read together with our Privacy Policy.īy continuing to browse or use our sites, you agree that we can store and access cookies and other tracking technologies as described in this policy. This cookie policy explains how and why cookies and other similar technologies may be stored on and accessed from your device when you use or visit websites that posts a link to this Policy (collectively, “the sites”). understands that your privacy is important to you and we are committed for being transparent about the technologies we use. Check Business Breaking News Live on Zee Business Twitter and Facebook. Get Latest Business News, Stock Market Updates and Videos Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.) (Disclaimer: The views/suggestions/advice expressed here in this article are solely by investment experts. "Undertaking such unregulated activity including dealing (i.E., advisory, distribution and execution/ implementation services) in digital gold by investment Advisers is not in accordance with the provisions.Of the Sebi Act, 1992 read with the Sebi (Investment Advisers) Regulations, 2013," the regulator said in a statement on Thursday. An investor can also go for investment in Sovereign Gold Bonds as they give both capital appreciation and interest to the holder," added Kshitij.Ĭapital markets regulator Sebi on Thursday has asked investment advisers to refrain from dealing in digital gold after realising that some registered investment advisers are engaged in unregulated activity by providing a platform for buying, selling or dealing in unregulated products including digital gold. "There will be no panic as holdings will not be liquidated. For those investors who bought it from SEBI regulated broker or investment advisory, they should change their holding or can contact the manufacturer of the product on or before the deadline, suggests Kshitij. He added those investors who invested through non-broking channels can keep their holding in digital gold. Many non-broking companies are providing a platform for their users to buy digital gold, and they will continue to sell it," said Purohit. Currently, there is no ban on the selling of digital gold. "This ban is only for the Investment Advisers. digital gold companies," he added.ĭigital gold has gained popularity as many brokers, investment advisors and wallets have started providing platforms, said Kshitij Purohit, Lead Commodity & Currency at CapitalVia Global Research. "If they want to hold onto the investment, they have the option of dealing directly with product manufacturers i.e. Gold ETFs, in addition to being regulated, also offer 24-karat physical gold backing, lower denominations, and price efficiency," said the Senior Fund Manager of Quantum AMC.Ĭhirag added that existing digital gold investors can liquidate their holdings on the investment platforms till the time the platforms provide an exit before they heed the regulator's orders. Investors should take a cue and take exposure to gold only through regulated avenues like Gold ETFs and Gold Mutual funds to avoid any regulatory surprises in the future. "SEBI in an investor-friendly move has simply reasserted the Sebi (Investment Advisers) Regulations, 2013 as per which investment advisors are not allowed to deal in unregulated products. Mehta feels that it is an investor-friendly move as in case of any mishappening, there is no regulatory recourse available to retail investors.
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Hence, investors should not dabble with digital gold except the SGB as these are issued by the Government of India," said Prathamesh Mallya.Ĭhirag Mehta, Senior Fund Manager, Alternative Investments, Quantum AMC, is of the view that as digital gold is an unregulated product, hence the comfort and confirmation on the checks and balances related to gold backing, purity, etc remain concerns on the top of investors mind.
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"In early August 2021, the stock exchanges had warned brokers not to deal in digital gold. Speaking on recent direction from SEBI, Prathamesh Mallya, AVP- Research, Non-Agri Commodities and Currencies, Angel One Ltd, said that digital gold instruments are not regulated by it, hence the Sebi has warned investment advisers not to ask their clients to invest in digital gold.