New Delhi: If you are planning to buy gold or invest in gold, then there is important news for you. Today is your last chance to buy gold at a cheaper rate than the market price. Actually, today is the last day to buy gold under the Sovereign Gold Bond Scheme. Let us tell you that under the Sovereign Gold Bond, the government is selling gold at less than the market rate from January 20, which is going to end today.
It is worth noting that the central bank RBI has fixed a price of Rs 5091 per ten grams for the first series of sovereign gold bonds 2022-23. However, if you apply for these bonds online and pay it digitally, then you can also get a discount of Rs 50 per ten grams i.e. Rs 5041 per ten grams will have to be paid online.
If we talk about maximum investment in this, then you can buy maximum 4 kg of gold bonds. Apart from this, if we talk about trust or any institution, then it can buy bonds up to 20 kg.
Let us tell you that this is a kind of government bond. This scheme is issued by RBI. The government started it in the year 2015. You can buy it in the form of weight of gold. If this bond is of 5 grams, then you understand that its price will be equal to 5 grams of gold.
Sovereign Gold Bond is a government bond, issued by RBI. It can be converted into demat form. Its value is in the weight of gold. If the bond is worth five grams of gold, then the value of the bond will be the same as the price of five grams of gold. The issue price has to be paid to a SEBI authorized broker for purchase. After the bond is sold, the money gets deposited in the investor’s account.
Special things related to Sovereign Gold Bond
– Gold Bond prices are determined on the basis of average price of gold of 999 purity in the last three working days of the previous week of the subscription period. The Indian Boolean and Jewelers Association (IBJA) publishes the price of gold of 999 purity.
Investors will get a discount of Rs 50 on online application and payment.
Bonds will be sold through scheduled commercial banks, Stock Holding Corporation of India, Clearing Corporation of India, select post offices, NSE and BSE, except small finance and payment banks.
Investors will get interest on the nominal value of the investment at the rate of 2.5 per cent per annum every six months.
first published:June 24, 2022, 6:34 a.m.