PNG Jewellers' new launch enables customers to buy and sell digital gold online

By

Isabelle Crossley

Published
Jan 10, 2022

Fine jewellery retailer PNG Jewellers has launched a digital gold facility which enables online shoppers to buy and sell digital gold through its e-commerce store. 

The brand has tied up with Augmont, a digital gold business, for its new venture, the Gem and Jewellery Export Promotion Council announced on its website. Shoppers can purchase digital gold and silver bullion online for as little as Rs 1 ($0.013) and can request the gold or silver they have bought to be delivered at any time either in coin or bar form.   
 
“The digital interface by PNG Jewellers in association with Augmont creates a hassle free and seamless buying/selling experience for customers,” PNG Jewellers’ chairman and managing director Saurabh Gadgil said in a statement, the GJEPC reported. 
 
The online service also enables shoppers to gift bullion to others with only an active mobile number required. Buyers can also sell their bullion through the same link at any time. The launch follows a pilot scheme which the business ran at select brick-and-mortar stores which PNG Jewellers deemed a success. 
 
“Over the last two years, customers have become extremely e-commerce savvy and hence, creating a platform for digital gold was the next step,” said Gadgil.

“With this initiative, we are empowering our customers, including first-time investors to buy and sell gold at their fingertips. Purchasing gold has never been so simple and with no limit to the amount of investment, this really opens up a huge opportunity for people to build their investment portfolios with gold and develop healthy investment habits. All this in a completely safe and secure environment. This initiative will propel our industry into the future, faster.”