Digital gold platforms are increasingly gaining traction among millennials who view them as a prudent and convenient savings option. According to a survey conducted by Moneyview, 65 per cent of millennials prefer digital gold over traditional. With a low entry ticket size, digital gold reduces the financial burden associated with traditional gold investments, making it an attractive option for savings.
Urban consumers are leading the trend toward digital gold, driven by their digital literacy and internet access. In contrast, rural consumers have traditionally preferred physical gold purchases. As fintech platforms continue to offer innovative solutions, digital gold is poised to play a pivotal role in shaping the future of gold, according to Sushma Abburi, Chief Business Officer at Moneyview.
Investors flexibility
Unlike traditional gold investments, which require finding a reputable dealer, arranging safe storage, and ensuring authenticity—digital gold allows for fractional ownership, making it accessible to a wider range of customers. It can be easily converted to cash or physical gold, giving investors flexibility to trade without incurring heavy transaction costs or delays. Furthermore, digital gold enables real-time purchases without the need for physical storage or transportation.
The survey shows that over 75 per cent of respondents under the age of 35 prefer digital gold to physical gold, citing its liquidity and convenience as major factors. Investors, particularly in the age group of 25-40 years are increasingly integrating both physical and digital gold into their financial strategies for building wealth, especially for retirement and long-term goals
Notably, the high-income group still prefers physical gold in larger quantities with digital gold having found its way mainly among middle-income groups who appreciate the flexibility of buying smaller units, starting as low as ₹10 on digital platforms.
The research surveyed 3,000 participants using parameters such as location, age, and income.