2023-11-30 20:30:00
The first-ever government gold bonds issued in 2015 have finally matured, and investors are poised to take home significant profits. The scheme, introduced by the central government to curb gold imports, allowed gold to be stored in document form, with 1 gram of gold equating to 1 unit.
When the scheme was first introduced in 2015, 1 gram of gold was sold at 2,684 rupees. Fast forward eight years, and the price of gold has skyrocketed to over 6,000 rupees. The Reserve Bank of India (RBI) has stated that investors will be reimbursed based on the average price of 1 gram of gold, which currently stands at 6,132 rupees.
To put the potential profits into perspective, let’s take a look at an example. If an individual invested 50,000 rupees in gold bonds back in 2015 and held onto the investment until maturity, they would now stand to receive nearly 1.15 lakh rupees.
The success of the government gold bond scheme serves as a validation of the government’s efforts to reduce gold imports and promote alternative forms of investment. As the scheme matures, it is clear that investors who remained patient will be handsomely rewarded.
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