Sovereign Gold Bond Scheme: The central government is starting a scheme to buy gold at a cheaper price from today. People have five days, under which they can book gold. If you are planning to invest in gold on Holi, then this is a good opportunity for you. Cheap gold can be bought from March 6 to March 10.
The Reserve Bank of India said on Friday that the price for the next installment of the Sovereign Gold Bond Scheme 2022-23 has been fixed at Rs 5,611 per gram. If someone buys ten grams of gold, then he will have to pay Rs 56,110. This is cheaper than the market price.
These buyers will get discount
The Government of India, in consultation with the Reserve Bank of India, will give a discount of Rs 50 per gram from the price of gold to investors applying online and making payments through digital mode. RBI said that the issue price of gold bonds for such investors will be Rs 5,561 per gram of gold.
From where can I buy this gold
The Reserve Bank of India issues Sovereign Gold Bonds (SGB) on behalf of the Government of India. The Bonds can be bought from banks, Stock Holding Corporation of India Limited (SHCIL), post offices and recognized stock exchanges – National Stock Exchange of India Limited and Bombay Stock Exchange Limited.
When will gold mature
If you invest in gold under Sovereign Gold Bond (SGB), then its maturity will be for 8 years, in which any investor can withdraw prematurely after 5 years. Please tell that this scheme was started in November 2015. Bringing this scheme means reducing the demand for buying physical gold in the country.
The least that can be done is investment
At least 1 gram of gold can be invested in Sovereign Gold Bond. While a customer can buy a maximum of 4 kg, HUF 4 kg and Trust 20 kg of gold. Know-your-customer (KYC) norms will be the same as for buying physical gold.
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