A gold loan is a loan that is secured by gold. The gold serves as collateral, and the loan amount is based on the value of the gold. Gold loans are typically used for short-term financings, such as emergency expenses or unexpected bills.
Gold loans are typically used by people who do not have access to other forms of credit, such as bank loans.
Gold loans typically have higher interest rates than other types of loans, but they can be a good option for people who need money quickly.