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Digital Gold Firm Plans Metal Leasing for India’s Jewelers

From bnnbloomberg.ca

After giving Indians the option to buy gold online for as little as 10 rupees (12 cents), digital gold provider SafeGold is planning to let its customers lease their metal to credit-starved small jewelers. The World Gold Council-backed firm wants jewelers to be able to borrow metal owned by some of its 14 million active users and sitting idle in vaults, founder Gaurav Mathur said in an interview. The gold would be returned later, with a fee. “This will be the non-banking finance company equivalent of metal leasing and fits into government policy of reducing imports by utilizing idle gold and also benefiting smaller ... (full story)

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  • Category: Fundamental Analysis