Sovereign Gold Bonds available till March 5
NEW DELHI: The Government of India has opened its Sovereign Gold Bond again for sale to investors.
You can invest in this scheme from March 1 to 5. The government has decided an issue price of Rs. 4,662 per gram which means for 10 grams it will be Rs. 46,620.
FROM WHERE YOU CAN PURCHASE THE GOLD BOND
According to the rules, if you want to purchase a gold bond then you must have a PAN card. Investors can purchase the bond online, though it is also available at banks, Stock Holding Corporation of India Limited (SHCIL), Post Office, and in Stock exchanges like NSE and BSE.
HOW MUCH GOLD CAN BE PURCHASED?
According to the scheme, a person can purchase up to 400 grams in a financial year with a minimum investment of 1 gram. Investing in the Sovereign Gold scheme can help you in saving tax.
WHAT IS SOVEREIGN GOLD BOND?
In the scheme, the investors do not get the gold physically, though it is safer. In the scheme, long-term capital gain is applicable after 3 years because of which it can be used while taking a loan. The redemption of the gold bond can be done after 5 years.
The price of the bond is determined by the average closing price of 999 purity gold given by the Indian Bullion and Jewellers Association Ltd (IBJA).