This Dhanteras buy gold at great prices; the 5-day window to invest starts today –Know details here

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This Dhanteras buy gold at great prices

New Delhi: This Dhanteras, you could avail the opportunity to buy gold over and above your traditional investment. Other than gold jewellery and gold coin, you could actually invest in government’s Sovereign Gold Bond scheme and purchase gold at great prices.

Sovereign Gold Bond 2020-21 is issued by Reserve Bank India on behalf of the government of India.

The Sovereign Gold Bond Scheme 2020-21 series VIII opened for subscription on Monday (November 9, 2020), and closes on Friday (November 13, 2020). The issue price for the Sovereign Gold Bond has been fixed at Rs 5,177 per gram of gold, the Reserve Bank of India said in a statement.

“The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity. Works out to Rs 5,177 per gram of gold,” the RBI said.

The government, in consultation with the RBI, has decided to offer a discount of Rs 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode. “For such investors, the issue price of Gold Bond will be Rs 5,127 per gram of gold,” the central bank said.

The issue price for the bonds (Series VII), which was open for subscription from October 12-16, was Rs 5,051 per gram of gold.

The Bonds will be restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions. The tenor of the Bond will be for a period of 8 years with exit option after 5th year to be exercised on the interest payment dates.

Minimum permissible investment will be 1 gram of gold. The maximum limit of subscribed shall be 4 KG for individual, 4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal (April-March) notified by the Government from time to time. A self-declaration to this effect will be obtained. The annual ceiling will include bonds subscribed under different tranches during initial issuance by Government and those purchased from the Secondary Market.

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