As gold prices continue to soar to historic highs, digital gold is quickly emerging as a popular investment option across India—especially among younger generations and first-time investors. While figures vary by platform, surveys suggest that millions of Indians are now investing in digital gold, with that number growing steadily each year.
“With rising smartphone usage, seamless UPI integration, and increasing financial awareness, we expect digital gold adoption to double in the coming years,” said Samit Guha, Chief Financial and Technology Officer at MMTC-PAMP. The company is a joint venture between the government-owned MMTC (Metals and Minerals Trading Corporation of India) and Switzerland-based precious metals refiner PAMP.
According to estimates from the World Gold Council and digital gold platform SafeGold, around ₹1.5 lakh crore was invested in gold in India in 2024. Of this, approximately ₹13,888 crore—or nearly 10%—went into digital gold. “The rise in digital gold investments has been driven by global economic uncertainty and market volatility since 2022,” said Rhea Chaterji, Director and Head of Consumer Retail at SafeGold.
Gold, in general, outperformed all other asset classes in 2024, delivering returns of over 21%, and has continued its strong run in 2025 with a 25% return year-to-date, Chaterji added.
SafeGold currently serves over 55 million customers across its own platform and through partnerships with major players such as Axis Bank, PhonePe, Amazon, Tanishq, and Jio Financial Services. “We’ve also expanded internationally, operating in the UAE through Liv, and in Thailand with TrueMoney and others. Last year, our revenue crossed ₹6,500 crore,” she said.
Digital gold is now available through about 100 apps, including those offered by jewellers. However, the backend infrastructure—such as storing the physical gold that backs these digital investments—is handled by a few major providers like MMTC-PAMP, SafeGold, and Augmont. These platforms store real gold in secure vaults to ensure every digital purchase is fully backed.
So, why the growing interest in digital gold? “Customers can start with as little as ₹10, sell their gold at any time, request physical delivery (from 0.5 grams onwards), or even lease their gold to earn returns,” explained Chaterji. “Our markup is around 2.6%, making us one of the most competitively priced providers of 24K 99.99% gold.”
Guha from MMTC-PAMP highlighted digital gold’s appeal as a blend of tradition and technology. “It offers the trust and purity associated with gold, combined with the convenience of digital platforms. With just a few taps, anyone can invest in 24K gold. We offer 99.99%+ pure gold, backed by Swiss precision and a positive weight tolerance,” he said.
The shift is being led by younger investors. A survey by fintech firm Moneyview, conducted in October last year, found that 65% of millennial respondents preferred digital gold over physical gold. Among those under 35, that number jumped to 75%, with convenience and liquidity cited as key reasons.
Still, experts urge caution. Unlike physical gold, digital gold is not yet regulated by a government body. This lack of oversight could pose risks if a platform shuts down or runs into legal trouble. “Digital gold is a risky product with no regulation or regulator. Investors should proceed with care. Any future government regulation could also impact investments,” said a spokesperson for the India Bullion and Jewellers Association.
Leading platforms, however, emphasize their commitment to transparency and safety. “Concerns around regulation are valid, but the key is choosing a trustworthy provider. At MMTC-PAMP, every rupee of digital gold is backed by 24K 99.99%+ gold stored securely. We are the only Indian refinery accredited by the London Bullion Market Association (LBMA), ensuring international standards for quality and purity,” said Guha.
Chaterji noted that SafeGold adheres to the World Gold Council’s Internet Gold Standards. Its gold is stored by Brinks, a global leader in secure logistics, with Vistra Corporate Services acting as an independent trustee to protect customer interests.
“Even without a formal regulatory framework, our customers can trust that their investments are secure. We perform daily audits and operate with full transparency. We’re also ready to align with any future regulation and are confident that our practices meet the highest industry standards,” she added.
