Cheap gold: Gold can be bought cheaply till March 1-5, government launches Sovereign Gold Bond Scheme; That's the price of a gram of gold
RBI will continue this scheme till March 1-5 for better returns (symbolic image)
If gold bonds are purchased on the advice of the Reserve Bank of India, Rs. 50 discount
In the Indian tradition, investing in gold is considered auspicious. With this in mind, the central government has launched a sovereign gold bond scheme. The scheme was launched in November 2015. The scheme aims to reduce the demand for physical gold and encourage people to buy bonds instead of jewelry.
At a time when gold prices are falling slightly, the Reserve Bank of India (RBI) is also offering discounts to consumers to buy gold. The government has once again launched the Sovereign Gold Bond 2020-21 scheme from March 1-5.
The price of 1 gram of gold is Rs. 4,663
In the Sovereign Gold Bond Scheme, the price of one gram of gold is Rs. 4,662 are held. While the price of 10 grams of gold is Rs. Is 46,620. The price of the bond is determined on the basis of the average closing price of 999 pure gold offered by the Indian Bullion and Jewelers Association Limited (IBJA). These gold bonds are published for 8 years and have the option to exit after 5 years. The application is declared for a minimum of 1 gram and its multiple.
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Where to buy
The investor needs to have a PAN card. Gold bonds can be purchased online. It can also be sold through banks, Stock Holding Corporation of India Limited, select post offices and NSE and BSE stock exchanges.
How much can be invested in bonds
The scheme was launched in November 2015. This is to reduce the demand for physical gold and to use the household savings used in the purchase of gold for financial savings. A person investing in a Sovereign Gold Bond Scheme can purchase a maximum of 500 grams of gold bonds in a financial year.
The investment can be a minimum of 1 gram and a maximum of 4 kg. For Hindu Undivided Family (HUF) 4 kg and for trust etc. 1 maximum investment of 1 kg per business year is allowed. KYC documents such as Water ID Card, Aadhaar Card or PAN Card are required to purchase gold under Sovereign Gold Bond Scheme.
Get a discount of Rs 50
Discounts are also offered on gold purchases. A statement from the finance ministry said that the government, in consultation with the Reserve Bank of India, had offered Rs. It has also decided to give a discount of Rs 50. For these investors, a gram of gold bond costs Rs. 4,612 are held. Taking 10 grams of gold online in this way costs Rs. 46,120.
The RBI's advice will give more discounts on buying gold
Gold price rises to Rs. 10,500
This is a really golden opportunity when it comes to investing in gold. Gold prices have fallen by 17-18 per cent in the last six months. Gold prices have fallen by 10,500 compared to August. In 2020, gold has returned an average of 25%. Apart from this, investing in gold bonds is also considered good because interest is also paid on gold in two installments a year.
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