If you want to buy cheaper and pure gold than the bullion market, you have the golden opportunity until May 28th. The Modi government is selling cheap gold at a discount of Rs 500 per 10 grams. However, you do not get this gold in physical form, but in bond form. The government has also fixed the price of gold and is now cheaper at a discount of Rs 633 compared to today’s rate. This morning, 24 carat gold for 10 grams at Rs 48690. Sovereign gold bonds will be issued in six installments between May and September.
4,842 gold per gram
The first sale of the Sovereign Gold Bond for FY 2021-22 took place from May 17 to 21 and now the second installment opens from May 24 to May 28. Under the government’s second series of gold bonds, the government pays Rs 4,842 per gram. Bonds will be open from May 24 to May 28, but the delivery date is June 1. “Government gold bonds 2021-22 (Series II) will be open for subscription between May 24 and May 28,” the Ministry of Finance said in a statement Friday. For this, the issue rate is set at Rs 4,842 per gram.
Also Read: Gold Price Today: Know where gold, silver price changes, and pure gold prices have reached today
The bond will be issued on June 1, 2021
The date of issue of the gold bonds is set to be June 1, 2021. It is noteworthy that the Government issued a notification on May 12, 2021, announcing the Government Gold Bond Scheme 2021-22 Series 1, 2 3, 4, 5, 6. In this, the first series was opened for subscription from May 17-21, 2021.
50 per gram discount
The government has decided to offer a discount of Rs 50 per gram on the delivery price to investors who apply online and make digital payments in consultation with the Reserve Bank of India. The issuance price of gold bonds for such investors is Rs. 4,792 per gram. In a sovereign gold bond scheme, a person can buy 500g of gold bonds during the financial year. There is a minimum investment of one gram.
Purchase from
Investor PAN is required with every SGB application. Gold bonds are sold by banks, stock holding corporations of India (SHCIL), designated post offices and accredited stock exchanges (NSE and BSE).
It is better to buy bonds than to buy gold ornaments
The key issue is that investors get the benefit of raising the price of gold. Also, they get a fixed interest rate of 2.5% on the investment amount. The term of these bonds is 8 years and the premature withdrawal can be made after the 5th year. It is subject to a long-term capital gains tax after three years (no capital gains tax is taxed until expiration), but it can be used for its debt.
Input: Agency
