Wednesday, June 22, 2022
HomeBusinessGood News! The central government is giving a chance to buy cheap...

Good News! The central government is giving a chance to buy cheap gold from tomorrow, check how much is the price? – News

Sovereign Gold Bond: During the outbreak of Corona epidemic, the attitude of investors towards gold has increased significantly. Investors have been very attracted towards Sovereign Gold Bond and now once again you are getting an opportunity to buy cheap gold. The central government is giving you a chance to buy gold cheaply from tomorrow i.e. June 20.

Inclination towards gold bonds
Let us tell you that during the years 2020-21 and 2021-22, due to the huge volatility in the stock market, the inclination towards gold bonds has increased. The sale of these bonds in these two years is 75 per cent of the total sales since the inception of the scheme in November 2015.

How much is the price fixed?
The sale of the next installment of Sovereign Gold Bond (SGB) will start from Monday and will last for five days. The issue price of gold for this installment has been fixed at Rs 5,091 per gram. This will be the first issue of the current financial year.

Discount on online payment
The government has offered a discount of Rs 50 per gram to the investors who apply online and the applicants will have to make the payment through digital mode to take advantage of this discount.

Know what the figures say?
According to RBI data, a total of Rs 38,693 crore (90 tonnes of gold) has been raised since the launch of the scheme in November 2015. A total amount of Rs 29,040 crore was raised in the financial years 2021-22 and 2020-21, which is about 75 percent of the total amount raised.

How much amount did RBI raise?
RBI raised a total amount of Rs 12,991 crore (27 tonnes) by releasing 10 installments of SGB during 2021-22. The central bank raised a total amount of Rs 16,049 crore (32.35 tonnes) in 2020-21 by releasing 12 installments of SGB.

Rishad Manekia, founder and managing director of Mumbai-based investment advisory firm Kairos Capital, said SGBs can be seen as an alternative to holding physical gold and investing in it yields returns. It is a beneficial option from the point of view of its being supported by the government and security.

Bonds are issued by the government
The central bank actually issues bonds on behalf of the Government of India. These can only be sold to resident individuals, Hindu Undivided Families (HUFs), trusts, universities and charitable institutions. RBI has said that the tenure of SGB will be for eight years, in which it can be prematurely encashed after the 5th year. This option can be exercised on the date on which interest is payable.

Html code here! Replace this with any non empty raw html code and that's it.


Most Popular