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Sovereign Gold Bond option is better for cheap gold

Sovereign gold bonds are also considered a better option for investing in gold. Investment in the first installment is being invited under this scheme. According to the Reserve Bank of India, the issue price for the Sovereign Gold Bond Scheme 2021-22 has been fixed at Rs 4,777 per gram. Investments are being made in it from May 17 and investors can invest in it for five days.

Actually, the government has decided to issue bonds in six installments from May 2021 to September 2021. The process, starting May 17, is the first of these six installments. The Reserve Bank of India issues bonds on behalf of the Government of India. Regarding this, the RBI says that the value of the bond is determined on the basis of the average of the closing price in the last three trading days of the previous week from the subscription period of 999 purity gold. On this basis, the value of the first installment is Rs 4,777 per gram of gold.

What is the last date?

The government has decided to give a rebate of Rs 50 per gram to investors applying online after consultation with the RBI. For this, they will have to pay through a digital medium. RBI said that the issue price of gold bonds for such investors would be Rs 4,727 per gram of gold. At the same time, the first installment of Sovereign Gold Bond Scheme 2021-22 will be open for subscription from 17 May 2021 to 21 May 2021 and the bonds will be issued on 25 May.

How much can you invest

These bonds are sold through banks (excluding small finance banks and payment banks), stock holding corporations of India limited (SHCIL), designated post offices, and recognized stock exchanges like NSE and BSE. Under the scheme, ordinary investors can invest a minimum of one gram of gold and a maximum of four kilograms of gold. Its investment period is eight years, with an option to withdraw after the fifth year.

 

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