Gold at Lowest Prices: If you have also been thinking of buying gold, here’s some good news for you. The government is offering you the opportunity to buy gold bonds at really cheap rates.
The Reserve Bank of India (RBI) has recently released the ninth series of Sovereign Gold Bonds, through which you can purchase the yellow metal at affordable prices from January 11 to January 15. Also Read - Gold Price Today Shows Big Decline. Details Here
The RBI on 8th January announced that it has set the price of gold at Rs 5,104 per gram, which is less than the market rate. And if you make the purchase using digital payment, you will get an additional discount of Rs 50 per gram. That means you can get a discount of Rs 500 for buying 10 grams of gold.
Can buy at least one gram, maximum 500 grams of gold
Under this scheme, you can buy a minimum one gram and maximum 500 grams of gold. Plus you will also get tax exemption by investing in gold bonds. The government pays you two and a half per cent interest per annum on gold bonds. This means that apart from the rising price of gold, you will get interest too.
Gold bond certificate is completely secure
Investors in the Sovereign Gold bond will not get gold in physical form, but gold bond certificates. It is safer than physical gold. When maturity period is over and the investor goes to redeem it, he gets money equal to the price of gold at the time.
PAN Card required
If you want to invest in Sovereign Gold Bonds, you must have PAN card. You can apply it to all commercial banks (except RRB, small finance bank, payment bank), post office, Stock Holding Corporation of India Limited (SHCIL), National Stock Exchange (NSE), Bombay Stock Exchange (BSE) or direct agents.
Sovereign Gold Bonds are a long-term investment. Their maturity period is eight years. However, you can redeem it from the fifth year. The price you get when you drop it will depend on the price of gold in the market at the given time.