The festive season is about to begin. Before this, there is a chance to buy cheap gold once again. However, this gold will not be physical but as a bond. Let us know about it in detail.
Actually, gold is given at a cheaper price under the central government’s popular gold bond scheme. The price of gold is decided by the Reserve Bank, which is less than the market price.
According to information given by the Reserve Bank of India (RBI), this time the price of gold bond has been fixed at Rs 5,051 per gram. At the same time, it has been decided to give a rebate of 50 rupees per gram to investors applying online and making payments through digital medium. The price of gold bond for such investors will be Rs 5,001 per gram.
Gold can be purchased from October 12 to 16 under the Gold Bond Scheme. Let us know that it is given as a bond. This means that you cannot use this gold like jewelery.
It is preferred as an investment. Its maturity period is eight years and after five years it also has an option to opt out. A minimum of one gram of gold can be invested in gold bonds and the maximum investment limit for the common man is four kilograms.
Also Read: Great opportunity to invest in gold, scheme is only for four days from October 12
If you missed the gold purchase this time, you will have to wait till November. The scheme will open again from November 9 to November 13. Explain that the purpose of the government’s launch of the scheme was to reduce the demand for imports and physical gold.
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