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Modi government giving opportunity to buy cheap gold once again, know where, at what rate and how will be able to buy

Sovereign Gold Bond Schemes: Once the festive season starts, the Modi government is once again giving you the opportunity to buy cheap gold (Gold News). Yes, under the government’s ‘Sovereign Gold Bond Scheme’, it can be purchased from November 9 i.e. Monday. Under the eighth series of Sovereign Gold Bond Scheme 2020-20 (Gold Bond News), you can invest in this scheme from November 9 to November 13. Let us tell you that under Sovereign Gold Bond Scheme, you do not get gold in physical form. Also Read – Gold Price Today 7 November 2020: Gold crossed 52 thousand, increase by more than 1500 in 3 days, now profits from shopping

The price of Rs 5,177 per gram has been fixed for the next installment of Sovereign Gold Bond. This information has been given by the Reserve Bank. RBI said, ‘For Sovereign Gold Bonds is based on the published average average closing price of gold of 999 purity by the Indian Bullion and Jewelers Association Limited (IBJA). Under this, the price has been fixed at Rs 5,177 per gram. Also Read – Gold Rate Today: Profit booking gold from upper levels, Brokers advice – Buy on declines

The Reserve Bank has said that after consultation with the central bank, the government has decided that investors applying online for Sovereign Gold Bonds (SGB) will be given a discount of Rs 50 per gram on the fixed price of the bond. Such investors will have to make payment in digital way along with the application. The Reserve Bank said that for investors applying online, the issue price of gold bond will be Rs 5,127 per gram. Also Read – Gold demand in India: Bumper purchases in gold, consumer demand up 35% in third quarter

These bonds are issued for a period of eight years and there is also an option to withdraw after five years. Applications are issued in at least one gram and its multiplier. An individual investor can invest for a minimum of one gram and a maximum of four kilos. It is permissible to invest up to four kg for a Hindu undivided family and up to 20 kg for a trust etc.

What is Sovereign Gold Bond?
Gold bonds can be taken in multiples of 1 gram of gold. Its duration is 8 years and after five years it also has the option to exit. A minimum of one gram of gold can be invested in Gold Bond and the maximum investment limit for the common man is four kilograms. At the same time, the limit is four kg for Hindu Undivided Family (HUF) and 20 kg for trust.

In this scheme, the investor does not get gold in physical form in Sovereign Gold Bond. It is safer than physical gold. As far as purity is concerned, its accuracy can also be doubted due to being in electronic form. Also, this gold bond is also tax free.

Where and how to get
You must have a PAN to invest in Sovereign Gold Bonds. This can be done by all commercial banks (except RRB, Small Finance Bank, Payment Bank), Post Office, Stock Holding Corporation of India Limited (SHCIL), National Stock Exchange of India Limited (NSE), Bombay Stock Exchange (BSE) or direct agents. You can apply through

(Input: agency)

About the author

Kim Diaz

Kim recently joined the team, and she writes for the Headline column of the website. She has done major in English, and a having a diploma in Journalism.

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