What is the benchmark for the Price of digital gold? Can MCX be taken as a benchmark?

What is the benchmark for the Price of digital gold? Can MCX be taken as a benchmark?

MCX cannot be considered as a benchmark for the prices of digital gold. MCX gives the prices of a futures contract which doesn’t give the landed prices by factoring in cost of logistics, insurance, safekeeping, etc. MCX also does not include pan India delivery and based on the contract it gives delivery at only a few locations like Mumbai, Ahmedabad, Delhi, etc. 5Paisa gives delivery across the country, and includes the cost of storage, insurance, trustee fees and gives you the landed, complete price of Gold. Also, the gold price quoted in newspapers and on various websites is the wholesale price in multiples of 1kg of gold. 5paisa gold price is valid for fractional grams and therefore is not directly comparable.

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