Business News | Dhan Launches 'Gold Vaults', Introduces Secure Bullion Storage for Retail Investors
Get latest articles and stories on Business at LatestLY. With the aim of allowing every Indian investor to buy physical gold and silver at live prices traded on stock exchanges, Dhan on Wednesday announced the launch of 'Gold Vault' at an event in Mumbai.
Mumbai (Maharashtra) [India], April 29 (ANI): With the aim of allowing every Indian investor to buy physical gold and silver at live prices traded on stock exchanges, Dhan on Wednesday announced the launch of 'Gold Vault' at an event in Mumbai.
According to Dhan, this is a first-of-its-kind investment product where the investor has control over the bullion's rate, purity, ownership, and safekeeping.
Speaking with ANI, Jay Prakash Gupta, Founder and COO of Dhan, said, "Your gold is secured; it is owned by you and not by someone else. This ensures that storage risks are taken care of. Additionally, you get better infrastructure, convenience, and a transparent pricing structure."
Gupta also mentioned that the product aims to address the key challenges faced by retail gold investors in India. He stated, "The Gold Vault seeks to bridge gaps in the current system by offering transparency in pricing and quality, convenience in storage and delivery, and efficiency in capital deployment all accessible through a single application."
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The Dhan COO added that the firm is currently serving 457 cities and towns through its logistics partners. He noted that the new Gold Vault offers real-time, exchange-linked pricing and secure, regulated storage through a clearing corporation. This approach provides transparency and control over the entire investment process.
Providing more details, the firm stated that every gram of gold or silver a user buys is settled through MCX/MCXCCL, one of India's most trusted commodity exchanges and clearing corporations. The price comes directly from the MCX exchange without markups, hidden spreads, or surprises.
Once the gold or silver contracts are physically settled, they are delivered or stored in exchange-regulated, MCX-partnered vaults via ComRIS accounts for users. These are the same institutional-grade facilities used by large financial players, now available to retail investors for the first time.
The Gold Vault by Dhan is available now to all users on the Dhan app. Investors can get started directly within the application. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)