...and gold goes digital

With online buying having become a part of modern-day living, it is not surprising that the concept has been extended to buying gold. And even though digital gold is a relatively new concept, the advantages it offers are numerous. SACHIN KOTHARI, Director, Augmont shares details of the Augmont app that is set to change the way people buy the yellow metal.

- Suneeta Kaul

The Retail Jeweller (TRJ): What is the objective of introducing an online buying platform for gold, which is a product easily available offline?

Sachin Kothari (SK): When people buy gold in the traditional way, there are a number of inconveniences associated with the process. Firstly, customers have to make physical trips to a jeweller, pay unverified prices, worry about the purity of the gold, and then carry it home safely. Keeping these problems in mind, we came up with a one-stop solution – the Augmont app.

The app, which was introduced last year, is a platform that enables customers to purchase gold and silver with just a few taps on the smart phone. Not only is the best price guaranteed, customers also have the flexibility of choosing the amount of gold they want to buy.

Being one of the largest gold refineries of India, we have way more control over quality, compared to our counterparts. Moreover, we are able to offer benchmark prices and pass on benefits to customers.

TRJ: Please explain to us how the app works.