Digital gold sales grow nearly 60% in a year; SafeGold sees further growth ahead
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Digital gold sales across the industry touched around ₹35,000 crore in the last 12 months, marking growth of nearly 60%.
- ✓SafeGold founder Gaurav Mathur said, “Digital gold is still a small part of the market.” Many consumers now use these platforms, as digital gold holdings reached 20 tonnes in India.
Story at a Glance
- Category
- Indian Markets
- Reported By
- CNBC TV18
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
SafeGold Founder and Managing Director Gaurav Mathur expects digital gold to gain a larger share of India's gold market as more consumers move towards financialised gold investments.
According to Mathur, digital gold sales across the industry touched around ₹35,000 crore in the last 12 months, marking growth of approximately 55-60% compared with the preceding 12-month period.
He said, “Digital gold is still a small part of the market, but if we look at it from about 2 or 3% of total bar and coin volumes two years ago, it's now closer to 9 or 10% of total bar and coin volumes.”
However, the segment remains relatively small in terms of total gold holdings. India has an estimated 8,000-10,000 tonnes of gold in the form of bars and coins, while digital gold holdings account for around 20 tonnes.
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CNBC TV18
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