Before the new year 2021, you can buy cheap gold from the Modi government. From 28 December 2020 to 1 January 2021, the government is once again giving you the opportunity to invest in sovereign gold bonds. However, it will not be available in physical form of gold. The price of gold bonds has been fixed at Rs 5,000 per gram for the next installment. The Reserve Bank gave this information on Thursday. The 999 purity gold published by the Indian Bullion and Jewelers Association Limited (IBJA) for gold bonds is based on the average closing price, the RBI said. Under this, the price has been fixed at Rs 5,000 per gram. In this case, the business day is 22 to 24 December.
500 per 10 grams
According to the RBI, in consultation with the central bank, the government has allowed investors to apply online and make payments through digital channels at a rate of Rs. The issue price of eight gold bonds in the series was fixed at Rs 5,177 per gram. It was open for application on November 9 and closed on November 13. The Central Government issues Government Gold Bonds 2020-21 on behalf of the Government of India.
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Investors in bonds can invest in multiples of one gram. The investment period is eight years. The option of withdrawing interest from the scheme from the date of payment is available from the fifth year. The bonds will be sold individually to residents, Hindu undivided families, trusts, universities and charities. Individual and Hindu undivided families can invest in a minimum of one gram of gold and a maximum of four kilograms of gold per economy. While trusts and other such units can invest 20 kg of gold per year.
Also read: Gold price latest: Gold price is below Rs 50,000, silver is strong at Rs 696
Where to buy
An investor page is required with each SGB application. All commercial banks (excluding RRBs, small finance banks and payment banks), post office fees, stock holding corporations India f India Limited (SHCIL), National Stock Exchange India f India Limited and Bombay Stock Exchange or directly to receive applications and customers. All services are authorized to provide.