Sovereign Gold Bond Scheme: The government started this scheme in November 2015 with the intention of reducing the physical demand for gold. Under this, you can buy gold at a lower price than the market and the government guarantees security on the investment made in it.
If you want to get gold jewelery made for wedding at home, or are preparing to invest in gold, then this news is for you. From today the government is going to sell gold cheaper than the market price.
Actually, the second series of Sovereign Gold Bond Scheme 2023-24 is being launched from today and investors can make purchases for five consecutive days i.e. till September 15. This year, the first series was opened on 19 June 2023 and was subscribed till 23 June.
Gold will be available at this price.
The objective of this Sovereign Gold Bond Scheme, which gives excellent returns to investors, is to reduce the demand for physical gold. This is the reason why the government sells gold at a price lower than the market price and this time the price of gold has been fixed at Rs 5,923 per gram.
Let us tell you that the issue price of gold bonds is determined by the Indian Bullion and Jewelers Association Limited (IBJA), which is based on the closing price of gold of 999 purity. In simple words, the price of Gold Bond is decided on the basis of simple average of the closing price of gold of 999 purity issued by IBJA for the last three trading days of the week preceding the subscription period.
Started in 2015, got tremendous response.
The government first started the Government Gold Bond Scheme in November 2015 with the intention of reducing the physical demand for gold. Under this scheme of the government, one can invest in gold at a price lower than the market. The government guarantees the security of the investment made in it. In Sovereign Gold Bond you invest in 24 carat i.e. 99.9% pure gold. This scheme has received tremendous response from investors and in return they have also received strong returns.
In the launching year i.e. year 2015-16, the price of gold under the scheme was Rs 2,684 per gram, while for the second series of 2023-24 it is Rs 5,923. That means, in the last seven years this scheme has given returns of about 120 percent.
Additional discount on online purchases:
While the reason for SGB Scheme becoming so popular is to get pure gold at a lower price than the market, the additional discount on online purchases has made it even more popular. Yes, the special thing about this scheme is that the price of gold purchased in it is already kept lower than the market price and a discount of Rs 50 per gram is also given to the people purchasing it online.
This means that this can prove to be the best opportunity to invest in Gold. If you buy gold online in this second series of Sovereign Gold Bond Scheme, then the price of 1 gram of gold for you will not be Rs 5,923, but only Rs 5,873 per gram.
Apart from the discount available on online purchases, there is another benefit which attracts people to invest in this scheme. Actually, if you invest in Sovereign Gold Bond, the government gives an assured return of 2.5 percent every year. It is paid on half yearly basis.
You can buy gold bonds from here.
Reserve Bank of India (RBI) issues these gold bonds on behalf of the Government of India. These bonds are sold through banks (except small finance banks and payment banks), Stock Holding Corporation of India Limited, nominated post offices and recognized stock exchanges such as National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange Limited (BSE). Let’s go. Under the scheme, a person can buy a maximum of 500 grams of gold bonds in a financial year, while the buyer can invest in a minimum of one gram of gold.
Apart from this, a maximum of 4 kg of gold can be purchased under the Sovereign Gold Bond Scheme in any one financial year. This limit has been fixed at 20 kg for undivided Hindu families and trusts. It is worth noting that changes can be made by the government from time to time.
