Mumbai: Two companies active in bullion segment Monday announced launching of an online platform which allows investors to own small quantities of physical gold and silver at wholesale prices.
The platform, Bullion India, will provide an online system to its members to buy, sell, hold and redeem these bars in a simple, easy and a convenient manner. It is an imitative of RiddiSiddhi Bullions (RSBL) and Finkurve Bullion Pvt Ltd.
Finkurve Bullion is promoted by NCDEX Spot Exchange Ltd (NSPOT), RSBL and Finkurve Financial Services Ltd (FFSL).
"People across the country wants to buy physical gold and silver and put them to use when the time is right. Bullion India is the medium that enables a retail client to purchase gold and silver as if they were buying shares and still use them physically whenever they need them," RiddiSiddhi Bullions Director Prithviraj Kothari told reporters here.
"We have been working on introducing a mass retail product for years. We will promote Bullion India through our network of jewellers," Kothari said.
Bullion India provides the convenience of buying as low as 0.1 gm of gold and 1 gm of silver at live wholesale prices. Along with the price benefit Bullion India avails facilities like no storage fee, free insurance, no account opening charges and no brokerage. These fully insured bars are home delivered at a nominal cost.
"With such price advantage, retail investors can take the opportunity to add gold and silver to their portfolio. Increasing inflation to the directly proportional investment demands for these precious metals would contribute to consistent returns during the next 4-5 years," Kothari said.
Gold bars are available in 1gm, 5gms and 10gms of 24 karat 99.5 percent purity and silver bars in 10gms, 20gms, 50gms and 100 gms of 24 karat 99.9 percent purity. These bars comply with international standards, RSBL said.
First Published: Monday, October 22, 2012, 21:00