Gold Investment: Sovereign gold bonds price fixed at Rs 5,000 per gm, subscription from December 28

Gold Investment: Sovereign gold bonds price fixed at Rs 5,000 per gm, subscription from December 28


Gold Investment: Sovereign gold bonds price fixed at Rs 5,000 per gm, subscription from December 28
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The issue cost for the following arrangement of sovereign gold bonds has been fixed at Rs 5,000 for each gram of gold, the Reserve Bank of India said in an assertion on Thursday. The Sovereign Gold Bond Scheme 2020-21 - Series IX will be open for membership from December 28, 2020, to January 1, 2021. 

"The ostensible estimation of the bond. works out to Rs 5,000 for each gram of gold," the RBI said. 

The estimation of the bond depends on the straightforward normal shutting cost (distributed by the India Bullion and Jewelers Association Ltd) for gold of 999 immaculateness of the last three business days of the week going before the membership period, that is, December 22-24. 

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RBI further said the public authority, in an interview with the national bank, has chosen to bring to the table a markdown of Rs 50 for every gram on the ostensible incentive to speculators applying on the web and making the installment against the application through advanced mode. 

"For such speculators, the issue cost of the gold bond will be Rs 4,950 gram of gold," RBI said. 

The issue cost for Series VIII of gold bonds, which was open for membership from November 9 to 13, 2020, was Rs 5,177 for each gram of gold.

Sovereign Gold Bond 2020-21 

Sovereign Gold Bond 2020-21 is given by the Reserve Bank India for the Government of India. The bonds are designated in products of a gram(s) of gold with an essential unit of 1 gram and its tenor is eight years with leave choice after the fifth year to be practiced on interest installment dates. 

The bonds are confined available to be purchased to inhabitant people, Hindu Undivided Families (HUFs), trusts, colleges, and beneficent organizations. 

The base passable venture will be 1 gram of gold and the most extreme constraint of membership will be 4 kg for people and HUFs, and 20 kg for trusts and comparable elements per monetary (April-March).

Where to buy

The gold bonds will be sold through banks (aside from Small Finance Banks and Payment Banks), Stock Holding Corporation of India (SHCIL), assigned mailing stations, and perceived stock trades (NSE and BSE). 

The sovereign gold security conspire was dispatched in November 2015 with a target to decrease the interest for actual gold and move a piece of homegrown reserve funds - utilized for the acquisition of gold - into monetary reserve funds. 

According to RBI's Annual Report 2019-20, a sum of Rs 9,652.78 crore (30.98 tons) has been raised through the sovereign gold bond conspire (37 tranches) since its initiation in November 2015. The RBI gave 10 tranches of sovereign gold bonds for a total measure of Rs 2,316.37 crore (6.13 tons) during 2019-20.

Watch a video on 'Best Sovereign Gold bonds to buy from the secondary market'

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