Buy gold at great prices; 5-day window to invest ends today –Know details here - SARKARI JOB INDIAN

Buy gold at great prices; 5-day window to invest ends today –Know details here


New Delhi: You could avail the opportunity to buy gold at great prices while the 5-day window to invest in the yellow metal ends today.

The Sovereign Gold Bond Scheme 2021-22- Series-III or the third tranche which opened for subscription on May 31, ends today (June 4, 2021).

The issue price for Sovereign Gold Bond Scheme 2021-22 has been fixed at Rs 4,889 per gram of gold, the Reserve Bank of India (RBI) said.

Earlier, the government had announced to issue the Sovereign Gold Bond (SGB) in six tranches from May 2021 to September 2021. The RBI will issue the bonds on behalf of the Government of India.

“The nominal value of the bond based on the simple average closing price for gold of 999 purity of the last three working days of the week preceding the subscription period…Works out to Rs 4,889 per gram of gold,” said the RBI, which issues the bonds on behalf of the central government.

Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of Rs 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode.

“For such investors, the issue price of Gold Bond will be Rs 4,839 per gram of gold,” it said.

The Bonds will be restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions. The tenor of the Bond will be for a period of 8 years with exit option after 5th year to be exercised on the interest payment dates.

Minimum permissible investment will be 1 gram of gold. The maximum limit of subscribed shall be 4 KG for individual, 4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal (April-March) notified by the Government from time to time. A self-declaration to this effect will be obtained. The annual ceiling will include bonds subscribed under different tranches during initial issuance by Government and those purchased from the Secondary Market.


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