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Modi government is selling cheap gold sovereign gold bond from today know details


NBC News

The Modi government is once again selling cheaper gold from today. If you want to invest in gold then from January 11 to January 15 you have a great chance. For Sovereign Gold Bonds, the price of gold has been fixed at Rs 5,104 per gram. The Reserve Bank of India has given this information. Tell us that you will not get this gold in physical form.

Read also: Who is the best in physical gold, ETF and sovereign gold bonds, know here

This is how the price is fixed

The Sovereign Gold Bond Scheme 2020-21 – The X series will be open for purchase from January 11 to January 15, 2021. The Reserve Bank said, “The value of the bond sits at the level of Rs. 5,104 per gram.” The value of the bond is based on the simple average closing price (published by the Indian Bullion and Jewelry Association of India) of 999 percent purity in the first three trading days of the purchase period (6-8 January 2021).

50 rupees per gram

The central bank further said, the government, in consultation with the RBI, has decided to give a discount of Rs 50 per gram to investors applying online. In this, payment for applications has to be made through digital mode. The central bank said, “The gold bond price for such investors will be Rs 5,054 per gram.

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Earlier, a price of Rs 5,000 per gram was placed for the ninth series of gold bonds. The issue was open from December 28, 2020 to January 1, 2021. The Sovereign Gold Bond Scheme was launched in November 2015, aimed at reducing the spot demand for gold and converting a portion of domestic savings used for the purchase of gold – into financial savings.

You can buy gold bonds here

Investor PAN is required with every SGB application. The gold bonds will be sold through banks, Stock Holding Corporation of India (SHCIL), designated post offices and recognized stock exchanges (NSE and BSE).