MMTC-PAMP India announces launch of digital silver

10 Feb 2023 , 10:59 AM

On Thursday, MMTC-PAMP India announced the launch of digital silver, allowing investors to begin accumulating the precious metal for as little as 1, similar to digital gold.

The company is a joint venture between the state-run MMTC and the Swiss-based bullion brand PAMP SA. It is India’s only London Bullion Market Association-accredited gold and silver refinery.

Silver was trading at Rs67,516 per kg on Thursday. Silver prices have risen nearly 10% in the last year, owing to increased demand for electronic components, medical equipment, and solar panels, among other things.

Because this metal is a proven inflation hedge, it is an appealing investment option during times of economic uncertainty.

Digital silver offers all of the benefits of silver, plus transparency, round-the-clock accessibility, guaranteed purity, and a low entry point into silver investments with no making charges.

Investors can keep their purchase in MMTC-secure PAMP’s digital vault or redeem it later from an extensive range of exquisitely crafted 999.9+ pure silver coins and bars delivered to their door.

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