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Gold Account
1. What is Digital Gold (XAU)?
2. How does Digital gold trading work?
Investors can buy digital gold (XAU) units through the Liv banking app. They can choose the amount of XAU they want to buy or sell, and execute the order directly via Liv.
4. What are advantages and disadvantages of Digital Gold trading?
- Advantages: Ease of buying and selling gold units online, ability to invest in Gold without having the hassle of storing physical gold.
- Disadvantages: Lack of physical ownership.
5. What is the minimum eligibility criteria to buy/sell Digital Gold?
Users needs an active Liv account and needs to pass the required KYC checks before opening their gold account.
6. What is the minimum and maximum amount users can invest in XAU?
Minimum amount is 0.001 XAU. Maximum amount will be the maximum possible amount users can buy using their AED balance.
7. How is the price of XAU different from the physical gold price?
Physical gold price trades higher than XAU as it includes other costs (storage, insurance etc.).
8. Is there a fee for buying or selling XAU with the Liv digital Gold Account?
Liv does not charge transaction fees when buying and selling XAU. There will be a small conversion fee charged for each transaction.
9. Can XAU be transferred out to external accounts?
No, this option is currently not available.
10. How can I see my XAU transactions?
Go to 'Gold Account' on your Liv app, you will find all your transactions under Transaction History.
11. How can I raise a query/complaint?
You can go to 'Service' tab on your Liv app and chat with our live agent or alternatively contact us via WhatsApp.
12. What are the factors that may influence the price of XAU?
There are multiple factors that may influence the price of XAU like the demand and supply and geopolitical factors and currency rate fluctuations among others.
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