RBI Gold Bond For Sale
Instead of buying gold as jewelry, there is now a wonderful opportunity to buy gold as a bond. Gold bonds are issued every fiscal year under the Federal Government’s Gold Investment Bond Scheme. According to the RBI, gold bonds will be sold in six tranches in the current fiscal 2024-2024 till September.
While the 3rd series has already been released, the 4th series is currently going on from Monday to July 16, according to the government. The price of a gram of gold has been fixed at Rs. 4,807 in this fourth series of gold bond issues. For those who apply online and pay digitally, a discount of Rs 50 per gram has been announced. The offer price for them is Rs.4,757. While the first series of the current year went on sale on May 17, the second series immediately launched on May 24. The price of the bond in the 2nd series was fixed at Rs. 4,842 per gram. In the first series, it was priced at Rs 4,777. The third series begins on May 31st and ends on June 4th. At the 3rd Series Gold Issue, the price of a gram of gold was set at Rs. 4,889.
Commodity expert Shyam Sundar’s view on this scheme
1, 5, 10, 50 & 100-gram gold bonds can be purchased under this scheme. One can buy a maximum of 4 kg of gold bonds during the financial year.
With a price-adjusted profit on gold, there is an additional return of 2.5% per annum. The gold bonds are available for sale at banks, Stock Holding Corporation (SHCIL), Post Offices, Mumbai Stock Exchange, and the National Stock Exchange.
There is no capital gains tax:
Profits made when selling at maturity after eight years are free of capital gains tax. Although the maturity period is 8 years, you can sell these gold bonds in the 5th, 6th, and 7th years and withdraw the investment.
The return on investment in this scheme will not be in the form of gold. This is because the scheme was introduced to reduce India’s gold imports. When returning gold bonds, they will be cashed based on the average gold price of the previous week.
The interest of Indians in buying gold jewelry is never less. The most important reason for this is that gold is seen as a symbol of status. But, in recent times, the reason for the shift in public attention to government-issued gold bonds is the corona curfew.
Also, if you invest in a gold bond scheme, you will get 2.5% interest per annum. As the gold price rises day by day, the return on gold bond investment also rises.
Now a days people are more interested in investing in the gold bond schemes than buying a physical form of gold like jewelery since it earns a high rate of interest. Having been well received by the people in the short time since its inception, it is now also seen as an attractive investment at best.
