Sovereign Gold Bond Opens For Subscription From Today
Sovereign Gold Bond opens for subscription from today, know these important things before investing: Sovereign Gold Bond.
Sovereign gold bonds (SGB) is opening for subscription from today ie Monday. Its price has been fixed at Rs 5,104 per gram.
The Sovereign gold bonds X Series scheme will open from 2020-21 from today till January 15, 2021. According to the Reserve Bank, “The bond is valued at Rs. 5,104 per gram.”
It is to be noted that the bond price is based on the average closing price at 999 percent purity in the first three trading days of the purchase period (January 6-8, 2021).
According to RBI, on the advice of the government RBI, investors applying online will get a discount of Rs 50 per gram on this price.
In this, payment for applications will be through ‘Digital Mode’. The gold bond price for such investors will be Rs 5,054 per gram.
Significantly, the price for the ninth series of gold bonds was kept at Rs 5,000 per gram. Its issue price was open from December 28, 2020 to January 1, 2021.
How is the sale
The sale of gold bonds will be done through banks, Stock Holding Corporation of India (SHCIL).
Designated post offices and recognized stock exchanges (NSE and BSE). The Sovereign gold bond scheme was started in November 2015.
What was the purpose of releasing it
The purpose of issuing gold bonds was to reduce the spot demand for gold and convert a portion of domestic savings used for the purchase of gold into financial savings.
Maturity period
The maturity period of gold bonds is eight years, but investors can opt out after the fifth year.
However, if an investor wants to exit before the lock-in period of 5 years, he can exit the stock exchange by selling it forever.
Which documents will be needed
KYC documents such as Voter ID, Aadhaar Card / PAN or TAN / Passport are required to purchase the SGB scheme.
