How to Buy Gold in Groww App?

If you are looking to buy gold online then you are at the right place. You can buy gold on the Groww app very easily. Now the question that will come to your mind is How to Buy Gold in Groww App?  Our step-by-step guide will help you in buying gold online.

There are 3 ways to buy Gold in Groww

1. Gold ETFs

2. Sovereign Gold

3. Gold Funds

Note: Investment in digital gold has been stopped for now. Therefore if you have your holdings in Gold then they are safe. But you can buy gold ETFs and gold funds.

Gold ETFs

When a mutual fund invests in Gold, it is known as Gold ETF. The stock exchange of ETFs takes place in the same way as that of individual stocks. Instead of buying the physical Gold, the trade happens on the price of gold.

Steps to Buy Gold ETFs in Groww App :

1. Open the Groww App on mobile / web.

2. Tap on the search bar.

3. In the search bar from the available options click on ETFs.

4. Now search and select the Gold ETF for investment.

5. Click on Buy.

6. Set the Quantity and Price Limit.

7. Tap the Buy Option.

8. Order details will appear on the screen.

Also, Check - How to Add Fund in Groww App

Sovereign Gold Bonds

Bonds that the government issues are sovereign gold bonds. Here the gold is available in digital form. Also, there is no risk of cost and storage. Here the  gold is in grams. RBI issues sovereign gold bonds on behalf of the government.

Note: SGBS are issued by the government at a specific time. So a user can check the availability of SGBs on the Groww app. The steps to buy are similar to that of Gold ETFs.

Gold Funds

Mutual funds that invest indirectly in physical gold are known as gold funds. Investment is made in gold-related everything.

Steps To Buy Gold Funds : 

1. Open the Groww App on your mobile/web.

2.  In the search bar search “Gold Funds”.

3.  Tap Gold Funds.

4.  A list of gold funds will appear, select the gold fund where you want to invest.

5. Select one of the options one time or start SIP.

6.  Pay the amount and the Gold fund order will be placed.

Conclusion

Digital Gold is the safest option for investors. Because the broker is responsible for the security of the gold that the investor has purchased. Also, purchasing and selling are easy in the Groww App. An investor can easily buy gold in the Groww app. So this is "How to Buy Gold in Groww App ?".