Sovereign Gold: Amid the festive and wedding season if you planning to buy or invest in Gold then this can be the best time for you. You have a golden opportunity to buy cheaper gold from the market rate. The central government will sell gold at a cheaper rate from tomorrow (March 6), and the offer will continue till March 10th. The Reserve Bank of India (RBI) is selling gold under the fourth series of the Sovereign Gold Bond (SGB) scheme for the financial year 2022-23.
Gold at much cheaper rate
In this way investors can buy Sovereign Gold at much cheaper rate. For this, the issue price has been fixed at Rs 5,561 per gram. This time the price of one gram of gold has been fixed at Rs 5,561. There is also a discount of Rs 50 on making online payment. You will have to pay only Rs 5,511 for one gram of gold. It is indeed a good opportunity to buy gold at much cheaper rate.
How and where to buy Sovereign Gold?
If we talk about its purchase, then (Sovereign Gold Bond Scheme Details) investors can buy it through Stock Holding Corporation of India Limited, Post Office and recognized stock exchanges, NSE and BSE. It is noted that they are not sold in Small Finance Bank and Payment Bank.
Maximum investment limit:
If we talk about maximum investment in this, then you can buy maximum 4 kg gold bonds. Apart from this, if we talk about trust or any institution, then it can buy bonds up to 20 kg.
It is to inform you that this is a type of government bond. This scheme is issued by RBI. The government started it in the year 2015. You can buy it for its weight in gold. If this bond is of 5 grams, then understand that its value will be equal to 5 grams of gold.
Things related to Sovereign Gold Bond
The Gold Bond (Sovereign Gold) rates are determined on the basis of the average rate of gold of 999 purity in the last three working days of the previous week of the subscription period. Indian Bullion and Jewelers Association (IBJA) publishes 999 purity gold rates.
Investors will get a discount of Rs 50 on online application and payment.
The Bonds will be sold through Scheduled Commercial Banks other than Small Finance and Payment Banks, Stock Holding Corporation of India, Clearing Corporation of India, select Post Offices, NSE and BSE.
Investors will get interest on the nominal value of the investment at the rate of 2.5 per cent per annum every six months.
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