On 11 November 2025, Business Standard reported that SEBI had cautioned investors against buying digital gold through fintech apps and online platforms, saying such products are not covered by any SEBI framework and may carry significant counterparty and operational risks. SEBI pointed investors towards regulated options such as gold ETFs and electronic gold receipts.
That warning shapes any Dhanteras decision this year. Dhanteras is on Friday, 6 November 2026. This guide compares physical coins, digital gold and gold ETFs using Business Standard, Zerodha Fund House and Business Today, and flags that Zerodha Fund House sells gold ETFs, so its comparison is not neutral. I found no sourced silver price or return data. This is general information, not financial advice. Check current rules and prices before you act.
Why the Choice Matters This Year
Business Standard says SEBI’s warning applies to digital gold sold through apps and platforms, and that SEBI pointed investors to gold ETFs, exchange-traded commodity derivatives and electronic gold receipts. Experts quoted in the article differ on what holders should do: one said there is no need to panic and to check for third-party audits and vault certificates, while another advised moving gradually to regulated options.
The article does not discuss Sovereign Gold Bonds or physical gold as alternatives.
Digital Gold vs Gold ETF
Zerodha Fund House compares the two. Because it is an asset manager promoting gold ETFs, treat its framing with care.
| Factor | Digital gold | Gold ETF |
|---|---|---|
| Regulation | Outside SEBI’s purview, per SEBI’s warning | Regulated under the securities framework |
| Storage | Third-party provider stores equivalent gold in an insured vault | Holds physical gold bars of 99.5% purity or higher |
| Minimum amount | Often very small amounts | Not stated |
| Demat account | Not required | Required |
| Liquidity | Can only be sold back to the issuing platform (Business Standard) | Trades on exchanges during market hours |
| Tax at purchase | 3% GST (Business Standard) | Avoids GST (Business Standard) |
| Key risk | Counterparty and operational risk; no securities-law protection | General market risk |
Business Standard also notes that digital gold has no grievance redressal if problems occur because it is unregulated.
Physical Gold and Silver Coins
For coins, bars and jewellery, Business Today’s 2024 report on a government notice urges buying BIS-hallmarked items from trusted sources. Check the BIS standard mark, the purity (carat and fineness) and the six-digit alphanumeric HUID, which you can verify in the BIS Care app. The notice listed hallmarking charges of Rs 45 per article, excluding taxes, and testing at a BIS-recognised centre of Rs 200; these are 2024 figures.
| Check | Why |
|---|---|
| BIS standard mark | Shows the Indian standard |
| Purity (carat and fineness) | Confirms the grade |
| HUID | Unique six-digit code for traceability |
| BIS Care app | Verify the HUID and see jeweller and centre details |
| Trusted seller | Business Today advises buying from trusted sources |
HinduTone describes silver as more affordable than gold and lists silver coins with Lakshmi and Ganesha as a traditional Dhanteras buy. I found no sourced silver investment data.
Which Option Suits Which Buyer (Our Suggestions)
These suggestions are ours and are general, not personal advice.
| Buyer (ours) | Option to consider |
|---|---|
| Wants a ritual item to keep and use in puja | Hallmarked coin or small silver item |
| Wants gold exposure and is comfortable with markets | Gold ETF through a demat account |
| Has digital gold already | Check platform transparency, vault audits and terms (Business Standard experts) |
| Has a small budget | Small silver item; avoid borrowing |
Business Standard quotes one expert saying gold should ideally be 10 to 15 percent of a portfolio, with most of it in SEBI-regulated products. That is one opinion, not a rule. For wider context, see our guide to index funds vs ETFs.
Budget and Debt
HinduTone advises against taking on debt for a festival purchase and notes that buying is a symbol, not a guarantee of wealth. Set a budget first; our guide to the 50/30/20 budget rule can help.
