Is it safe to buy gold online through Paytm and sell it when the market rate is high?

The main advantage buying gold in paytym gold is gold is stored in MMTC-PPMP lockers,which are securely locked and no doubt on purity as it is 99.99 percent pure which is best in the market.Hence if you feel waste of money for making charges or feel unsecure in home or want to accumulate in slow manner this is best as you can get that gold delivered to your home at some charges in the gold coin or bar.

Now coming to main disadvantage,this is not meant for investment as you are supposed to pay 3% GST and while selling the 3% again will be reduced as the selling price will be always less than the market price by 3% hence if you want to gain profit the increase in gold should be more than 9% which i realised is not so good as I ll explain this.

My experience of buying 6000 rs gold which i got around 5700 rs worth gold after deduction of GST and other charges god knows when gold was 4680/gram and after waiting for 45 days then market price rouse to 4941/gram(the MMTC gold is expensive than the market price because of the purity) in paytym gold and the selling price was 4777/gram as I told they ll deduct again 3% GST from your pocket when you sell hemce I got 5953 rs i.e 47 rs loss,I did this because I wanted to invest in hdfc gold etf.

Conclusion after my experience is you buy ang gold etf from hdfc,sbi or whatever and you buy those gold stocks in market price and hold it,when price increases you can sell and gain margin.Here you are not losing any 3% GST concept ,therefore at any point of time even if there was increase of 50 rupees you will be in profit margin of 50 rs.Hence I bought even hdfc gold etf along with paytym gold.Later on realising the pros and cons made me to invest in hdfc gold etf selling paytym gold at 50 rs loss as I felt that can be easily void by investing in gold etf.If at all you wanna buy gold you can sell the stock and buy physical gold as the gold etf stock will be like gold value in market.

So paytym gold is not an investment better buy some etf stock or RBI gold sovereign bond.