Modi government is selling gold cheaper than the market price during lockdown! You will get a chance from Monday

New Delhi. Amid this Corona crisis, the rising trend in gold prices continues. Amidst the rising prices of gold, Modi government (Government of India) has brought a new scheme for cheap gold. The government has fixed the price of the next phase of Sovereign Gold Bond 2020-21 at ₹ 4,590 per gram. Series-2 of the Sovereign Gold Bond Scheme 2020-21 will be open for subscription from 11 May 2020 to 15 May 2020. Earlier the issue price of the series was Rs 4,639 per gram. The first issue of Sovereign Gold Bond was open from 20 April to 24 April 2020. Let us tell you that the domestic bullion market is closed due to the lockdown. But in future the price of gold has reached close to Rs 50 thousand per ten grams.

How much gold can you buy? A person investing in Sovereign Gold Bond Scheme can buy a maximum of 500 grams of gold bonds in a financial year. The minimum investment required is one gram. You can save tax by investing in this scheme. Under the scheme, you will get 2.5 percent annual interest on investment.

RBI has said in its statement that the issue price of gold bonds has been fixed at ₹ 4,590 per gram, but those who apply and pay online for gold bonds will get a discount of Rs 50 per gram. If you pay in digital mode. So you will get a discount of Rs 50 per gram. The issue price of the bond with discount will be Rs 4,540 per gram. The smallest bond under this scheme will be equal to 1 gram of gold.

Any individual or HUF can buy a maximum of 4 kg gold bonds in a financial year. Overall, the limit for purchasing bonds for an individual is 4 kg, while for a trust or organization, the limit has been fixed at 20 kg.

The maturity period of this scheme is 8 years. But if you still want to sell the bonds, you will have to wait for at least 5 years. After this period, Sovereign Gold Bond can be redeemed at market prices. Only individuals or HUFs, trusts, universities and welfare institutions will be able to buy this bond.

What is Sovereign Gold Bond Scheme?- This scheme was started in November 2015. Its objective is to reduce the demand for physical gold and to use the domestic savings used in purchasing gold for financial savings. If you invest in Sovereign Gold Bond instead of buying gold and keeping it at home, you can also save tax.

Buy cheap gold from here- Sovereign Gold Bond is sold through banks, Stock Holding Corporation of India Limited, selected post offices and NSE and BSE. You can join the bond scheme by visiting any one of these places. Let us tell you that the price of this bond is fixed in rupees on the basis of the prices of gold of 999 purity given by Bharat Bullion and Jewelers Association Limited for the last 3 days.

There will be savings in capital gains tax- Bond prices depend on volatility in gold prices. Fall in gold prices gives negative returns on gold bonds. To reduce this volatility, the government is issuing long-term gold bonds. The investment period in this is 8 years, but you can withdraw your money even after 5 years. Capital gains tax is also not imposed on withdrawal of money after five years.

Tags: Coronavirus, Coronavirus Epidemic, Coronavirus pandemic, gold, gold business, Lockdown, Lockdown-3

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