Mumbai, Nov 8
The Securities and Exchange Board of India (SEBI) has issued a warning to investors regarding “digital gold” or e-gold products available online, stating that all such offerings operate outside the securities regulatory framework and hold significant risks for investors.
SEBI informed that such digital gold products are different from SEBI regulated gold products as they are neither notified as securities nor regulated as commodity derivatives.
India’s gold exchange-traded funds saw $850 million in net inflows in October, taking the total to a record $3.05 billion -- the highest-ever for a single year, according to the World Gold Council data.