In the corona crisis, gold has emerged as the safest investment option. Not only India, but investors from all over the world have also increased attraction for this yellow metal. This year, its price has increased by about 40 percent. In such a situation, you have a golden chance to buy gold under the Sovereign Gold Bond Scheme.
The craze of the Indians of New Delhi gold is not hidden from anyone, but its brightness has increased in the Corona era. Investors are turning to gold once again due to huge turmoil in the stock markets and reduced interest rates on FD and small savings schemes. This is the reason that its price is creating new records. If you want to buy cheap gold then you have a golden chance. The government is going to sell gold cheaply from today under the Sovereign Gold Bond Scheme.
Those buying gold bonds online will get an additional discount of Rs 50 per gram. If you missed investing in gold in the previous phase, do not miss this time. Subscription to the Government Gold Bond Scheme 2020-21 Series-4 will open from today and will close on July 10. The RBI announced in April that the government would issue government gold bonds in six installments from April 2020 to September.
Issue price also Rs 4,852 per gram
RBI will issue these bonds on behalf of the Government of India. The issue price for government gold bonds has also been fixed at Rs 4,852 per gram. Earlier, the issue price for subscription between June 8 and 12 was Rs 4,677 per gram. The Reserve Bank says that the issue price will be fixed in rupees from the simple average of the closing price of 999 purity gold issued by IBJA for the last three working days of the week preceding the subscription.
The government, in consultation with the RBI, decided to give a rebate of Rs 50 per gram to investors who would apply online and make payments in a digital manner. The issue price for such investors would be Rs 4,802 per gram. Gold prices are expected to continue to rise until the end of this year. Because of this, Sovereign Gold Bonds can get a good response from investors.
Who can invest?
Citizens living in India, Hindu undivided families, trusts, universities, and charitable institutions can invest under this Sovereign Gold Bond Scheme. This bond can be invested with a minimum of one gram. A person or a Hindu undivided family can invest up to four kilograms in this scheme in a financial year. Institutions like the Trust can invest up to 20 kg in a financial year. The Sovereign Gold Bond Scheme has a duration of eight years. The Sovereign Gold Bond Scheme was launched in November 2015.
Gold demand in the world
demand at a global level (demand of gold) rapidly and retail market, a weaker rupee against the dollar last week, Mumbai (retail market) in the price of gold Each 10 grams had crossed 50 thousand rupees. According to an analysis by the Times of India, gold prices started climbing from mid-2018. Till then its price was around 30 thousand to 32 thousand rupees for many years. In the last two years, its price has jumped 57 percent. It outperformed all other asset classes in terms of returns. The 10-year gilts have performed the best after gold. It has given around 17 percent returns.
Last week, gold prices in New York were slightly above $ 1800 per ounce. According to analysts, the price of gold has increased due to the possibility of Coronavirus raising its head again. A recent report by Bank of America Securities states that there is no hope of better returns in stocks and bonds in the next few years. Therefore, investors have turned towards gold. According to the report, by the end of 2021, the price of gold can go up to $ 3000 an ounce. According to the current exchange rate, this amount in Indian currency is Rs 82 thousand per 10 grams.