MMTC-PAMP launches Digital Silver
Digital Gold is a virtual method of buying gold. You will have gold on the paper. Just like digital gold, now digital silver has been launched. It was launched by MMTC-PAMP. MMTC is a Metals and Minerals Trading Corporation. It is a PSU. PAMP is Products Artistiques Metaux Precieux. It is a company based in Switzerland. The products of the company are gold bars and refined precious metals.
Digital gold or digital silver is one of the safest ways to buy expensive metals. Storage is easy and safe. The buyer does not possess the metal in his locker and therefore he need not worry about its safety. He need not pay locker charges.
When you buy physical gold, the money gets locked. No further investments can be made. Digital gold is like shares. You put in your money on the company launching the product. He or she uses the money to expand his business. Therefore, there are employment opportunities and economic growth. On the other hand, buying physical gold benefits the individual alone and adds to his savings.
Category: Economy & Banking Current Affairs - 2022