New Delhi, May 15 -- Over the last few days, market intermediaries have launched regulated versions of digital gold that also allow individuals to take physical deliveries. On paper, these products promise the best of both worlds: access to high-purity gold at transparent prices without the hassle of storage. However, the jury is still out on whether or not these products meet investors' real needs.

The National Stock Exchange (NSE) launched Electronic Gold Receipts (EGRs) on 4 May and Dhan, a broker, launched a gold vault on 29 April.

In NSE's EGR offering, gold is held in demat form. Simply put, gold already sitting within the formal vaulting ecosystem can be converted into an electronic receipt that can be traded on the stock exchang...