Sovereign Gold Bond Issue: RBI has announced the prices for the third series of Sovereign Gold Bond Issue. Besides, a decision has also been taken to give discount to those making online purchases.
Sovereign Gold Bond Issue: A great and safe opportunity to invest in gold has arrived. The Reserve Bank of India (RBI) has fixed the price of the Sovereign Gold Bond Issue starting from December 18. Investors will have to invest Rs 6199 per gram to buy gold in this bond. This issue will remain open for five days.
Discount will be available on online purchase of bonds
This is the third series of Sovereign Gold Bond Scheme 2023-24, which will be open from 18 to 22 December. The Finance Ministry said on Friday that a discount will also be available on purchasing gold bonds online. On the advice of the Reserve Bank, the Central Government has decided to give a discount of Rs 50 per gram to those making online payment. According to the Finance Ministry, the price of the bond for such investors will be Rs 6,149 per gram.
Fear of rise in gold prices
There is a possibility of further increase in gold prices. In such a situation, it is expected that in view of this, good demand can be seen for this series of Sovereign Gold Bond.
RBI’s 66th Sovereign Gold Bond
This is the 66th sovereign gold bond being issued by RBI. The first bond was issued in 2015, which also matured on November 30 last month. The first and second series of this financial year had received a strong response from investors and record purchases were made. In the second series in September, people had subscribed for bonds worth 11.67 tonnes of gold and in the first series, 7.77 tonnes of gold had been subscribed.
How to get tax exemption
RBI Sovereign Gold Bond gives better returns than investment options like bank FD. In this, along with return on investment, security is also guaranteed. It has the support of the government. Therefore there is no risk of losing money. Besides, investors get the benefit of rising gold prices and interest is also given on the purchase of gold. If investors hold the bond till maturity then the income at the time of maturity will be tax free. The maturity of the bond is in eight years.
Who can invest
Under the Sovereign Gold Bond Scheme, you can buy a minimum of 1 gram and a maximum of 4 kilograms of gold in a year. Trusts and institutions can buy up to 20 kg of gold in a year.
Buy gold from here
To buy gold, you can contact Stock Holding Corporation of India Limited (SHCIL), NSE, BSE recognized stock exchanges, post offices and commercial banks. KYC is necessary to buy gold under SGB. Along with this, it is also necessary to have PAN card.
