Sovereign Gold Bond Latest Update: Modi government is offering cheap gold for the third time this financial year. For this purpose, the RBI Sovereign Gold Bond Scheme has set a distribution price of Rs 4,889 per gram for 2020-21. Experts say that by the end of the year, gold will again hit Rs 55,000. The Gold Bond Issue is opening five days from May 31st.
According to data from the Union Ministry of Finance, sovereign gold bonds will be issued in six installments between May and September. According to the website of the Indian Bullion and Jewelers Association, gold is worth Rs 48,654. This means that the price of a sovereign gold bond is slightly higher than Friday’s gold price. A sovereign gold bond costs Rs. 48,890 per 10 grams.
Also Read: Gold Price: Four Things Determine the New Height of Gold, The All-Time High of 11,000 Rupees
The Sovereign Gold Bond Scheme for Subscription to Series-III or Third Stage will open on May 31, 2021-22 and expire on June 4, the Reserve Bank said. The government had previously announced a sovereign gold bond scheme in six installments from May 2021 to September 2021. The Reserve Bank of India will issue a bond on behalf of the Government of India. Apply for bonds online and pay Rs 50 per gram for digital payments. That is, if you take gold bonds through these methods, you will get Rs.
How far can gold prices go?
Despite the corona crisis, gold remains an investor-preferred medium and will continue to be bullish in the long term, says Anuj Gupta, vice president (commodity and currency) of IIFL. By Diwali this year, gold could again reach Rs 55,000, he says.
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