New Delhi: The first phase of the central government’s gold bond issuance for the current financial year begins tomorrow.
According to the RBI, the price of gold has been fixed at Rs 5,091 per gram. A total of 5 days takes place.The issue price is determined by averaging the price of 999 pure gold, which was in the three trading days prior to the issuance of 27 tons of gold.
In that regard, the price of gold is set at Rs 5,091 during tomorrow’s bond issuance. Buyers of gold savings bonds will get Rs 5,041 per gram.
The second phase of gold bond issuance for the current financial year is expected to start on August 22 and end on August 26. During the last financial year, a total of 10 tranches were issued. Through this, nearly 12 thousand 991 crore rupees were collected. Investors have bought a total of 27 tonnes of gold. Gold savings securities will be sold at banks, Stock Holding Corporation, Mumbai and National Stock Exchanges, Head Post Offices.
1 unit
In November 2015, the federal government announced the Gold Savings Bond Scheme, one of the measures to reduce gold imports. In this, gold can be stored in document form. 1 gram of gold will be given in the amount of 1 unit. It is possible to invest at least 1 gram in this scheme. Individuals can invest up to a maximum of 4kg and trusts up to 20kg.
The interest on the bond investment will be calculated and paid once in six months. The maturity of the bonds is eight years from the date of issue. However, from the date of issue, after the beginning of the fifth year, the investment amount can be withdrawn before maturity on the dates of payment of interest.
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