Sovereign Gold Bond: Where else is a better opportunity to buy cheap gold! Know the things related to the scheme


Sovereign Gold Bond: The Central Government is once again being given a chance to buy gold cheaply. That is, once again through Sovereign Gold Bond, you can take the opportunity to buy gold at a rate lower than the market rate. Sovereign gold bonds are issued by RBI, whose price is lower than the market.

The eighth and last phase of the Sovereign Gold Bond Scheme has started. Under the scheme, you can buy gold today i.e. from November 29 to December 3 and you can get it cheaper by buying it online. For this eighth phase, the price of gold has been fixed at Rs 4791 per gram and if you buy online or digitally, then you can get a discount of Rs 50 more per gram. That is, for 10 grams of gold, your price will be Rs 47410 instead of Rs 47910. In this way, on buying 10 grams of gold directly, you will be able to get a benefit of Rs 500.

How is it that cheap gold is available through this scheme
The government is selling gold at less than the market price, as if today’s gold price is on the Multi Commodity Exchange, then the February futures were at Rs 48177 per 10 grams and you are getting it at Rs 47410 when you buy online, then you will get Rs 767 directly. The profit can be made on every 10 grams of gold.

The benefits of Sovereign Gold Bond are the advantages – know here

  • It is issued by RBI and its best feature is that while gold is available in cheap form, there is a guaranteed fixed return of 2.5 percent on the invested amount, which comes in your account every half yearly i.e. 6 months. It is taxable according to the slab.
  • Another advantage of this is that you can buy gold bonds equal to the value of 1 gram to 4 kg of gold in a financial year.
  • It does not attract GST and making charges like normal purchase of gold.
  • Sovereign gold bonds can also be easily sold on the stock exchange.
  • Keeping these bonds in place of physical gold provides a safer option.

How to invest in it online
Buy units of gold bonds on NSE (National Stock Exchange) and an amount equal to its value is deducted from the account linked to your demat account.

Condition of Sovereign Gold Bond Scheme
It has a lock-in period of 5 years and matures after 8 years. If you want to sell them only after 5 years, then you will have to pay 20.80 percent charge as per long term capital gains tax. If you hold for 8 years and the bonds mature, then you will not have to pay any tax on the profit earned on selling them.

How can you invest in it?
RBI has given the option to invest in it through bank branches, post offices, stock exchanges and Stock Holding Corporation of India (SHCIL). If you want to buy offline, then you can invest by visiting these places.

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