Gold Investment Opportunity: If you wish to buy gold at a price lower than the current market rate, consider the Sovereign Gold Bond Scheme 2023-24, starting from December 18, 2023.
This opportunity is available to the general public until December 22, 2023, with bonds set to be issued by December 28, 2023.
Government-set Prices
The government has announced the prices for the Sovereign Gold Bond Scheme Series.
The fixed price for one gram is Rs 6,199, slightly below the current market rate of around Rs 6,200 per gram.
How Gold Price is Determined
The gold price is determined by averaging the rates of the last three days before subscription, along with Aadhaar details.
Online payments for gold also come with a discount of Rs 50 per 10 grams.
Understanding the Sovereign Gold Bond Scheme
This government-run scheme allows individuals to invest in gold at a reduced cost compared to the market.
The Government of India guarantees the security of the invested money.
The Reserve Bank of India manages this bond, available for purchase at any bank or through net banking.
Minimum and Maximum Investments
As per Reserve Bank of India guidelines, investors must buy a minimum of one gram of gold under the Sovereign Gold Bond Scheme.
The maximum investment limits are set at 4 kg for individuals, 4 kg for Hindu Undivided Families (HUF), and 20 kg for trusts.
Where to Purchase
The Sovereign Gold Bond Scheme is available for purchase at all banks, Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), National Stock Exchange of India Limited, and Bombay Stock Exchange Limited.
Interest and Maturity
The Sovereign Gold Bond Scheme has a total maturity period of 8 years, with the option to exit in the 5th year.
Investors earn an interest rate of 2.50 percent. This scheme was initiated by the government in the year 2015.
