1. Why Save Gold?

Gold outperforms all products, including PF, Mutual funds and Equity Index Funds. Gold as an asset, is free from market risks. Provides security. Protects our savings from eroding value of money. And you can sell it anytime giving instant liquidity. Gold also protects our savings from our own spending habits. Because we won't touch gold for ordinary expenses. The accumulated gold can be used to buy Jewellery, fund college education or invest in property, creating wealth for the next generation. The graph below shows the performance of Gold from 2000 to 2020 compared to PF and NIFTY50 Equity Index. Rs 10,000 invested in Gold in the year 2000, appreciated to Rs 120,000 in 2020. PF with compound interest appreciated only to Rs 60,000. That is 2X performance. NIFTY50 Equity Index grew from 1500 to 12000 between 2000 to 2020, whereas Gold grew from Rs 430 per gram to Rs 5200 per gram during the same period. A 50% better performance.

2. Gold ETF funds also invest in Gold right?

Yes but they invest only 50% of funds in Physical Gold and the balance in financial derivatives. They are quoted in mutual fund units (not Gold grams) with NAV. There is no legal right of possession for the Gold, as you don't own the gold, only the mutual fund units. So Gold ETFs are not as secure and safe as Physical Gold coins and bars stored in your own locker.

3. Can I use the accumulated Gold balance to buy Jewellery in any shop of my choice?

The short answer is Yes. There are 3 ways you can do this: Ensure that your address details are updated at app.milligold.in. Redeem your accumulated gold balance as 999 purity Coins / Bars delivered to your home address from time to time. (Example every 1 gram or every 10 grams). You can then give these coins/ bars to the Jewellery shop where you are buying and get the bill adjusted for the market value of Gold given. Ensure that your bank details are updated at app.milligold.in. When you redeem, choose "Bank settlement" option. The market price of the gold on the date of redemption, will be credited to your bank account. Now you can use your own debit card to buy Jewellery in any shop of your choice. You will of course be paying extra, for the making and wastage charges. If you are worried, that you will spend the money for some other purpose, choose "Direct Settlement at Jewellery Shop" option. This is same as Bank Settlement explained above, except that the transfer of money to your bank account will be timed to happen just a few minutes before you reach the billing counter of the Jewellery shop. (Our customer service officer will coordinate with you over live chat). * Please refer to the section on "Fees and Charges" to know the exact calculation formula used for buying price and settlement amount. * Please note that there will be a cooling off period of one month every time you update your address or bank account details, before you can redeem. This is to reduce the risk of someone misusing your phone / login to commit fraud.

4. How to authorize eMandate?