It is now possible for everyone to buy gold as the price of gold has skyrocketed. But you can buy gold according to your financial system under a government scheme. Yes, the government will release the first series of Sovereign Gold Bonds for FY 2021-22 on Monday, May 17th. The Sovereign Gold Bonds of this series will be priced at Rs 4,777 per gram, which is lower than the market price.
The Sovereign Gold Bond Second Series subscription will open from May 24 to May 28. Gold bonds will be issued on June 1 to subscribers of this period. After this, the third series subscription will be open from May 31 to June 4, the fourth series from July 12 to July 16. The issue date for the third series is June 8, while the bond issue date for the fourth series is July 20.
For some time now, the government has been making continuous efforts to promote online transactions. Under this, the government has also given an additional discount of Rs 50 per ten grams for online purchase of sovereign gold bonds. That is, if you invest online, you will have to pay Rs 50 less for every ten grams. According to the finance ministry, the price of the gold bond will be at the normal price of the normal price issued by the India Bullion and Jewelers Association Limited. This price will be the average price of 99.9 purity gold during the last three business days of the week before the investment period.
Can buy up to 4 kg
Any citizen of India can invest up to 4 kg of gold in this government bond. This investment will be through bonds. You will not find physical gold in it. At the same time, the maximum purchase limit of trusts and other institutions has been kept at 20 kg.