Amazon Pay, the digital arm of e-commerce major Amazon, has launched a service for its users to invest in digital gold.The company said that its “Gold Vault” feature will act as an investment tool and provide the users an opportunity to keep in their possession the precious metal which is considered a safe investment.
Gold prices have been rising rapidly in the last few weeks due to global volatility and weakening of the US dollar.The Amazon Pay users will have the flexibility to keep gold in a digital locker and buy or sell the precious metal without having to rent a locker.
The company said that its vault will be totally secure.
The users will be able to buy gold for as little as Rs 5 on the platform for which Amazon has partnered with SafeGold.The gold being offered is of 24 carats with 99.5 percent purity, the company said.
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