Coronaviruses have affected the world economy. Stock markets have seen a steep decline due to future uncertainties. At the same time, investors have invested heavily in gold. Due to this, the price of gold has touched the sky. However, if you want to buy gold cheaply, you can take advantage of the Sovereign Gold Bond Scheme, which opens for subscription from today.
The second-phase gold bond in the fiscal year 2020-21 will open for subscription on Monday. The last date for subscription for investment in this scheme is 15 May. The second gold bond of the current financial year is coming at a time when there is a huge rise in demand for gold among investors.
The government has fixed the issue price of gold bonds opening for subscription from Monday at 4,590 per gram. However, if you are applying online and paying through digital medium then you will also get a rebate of Rs 50 per gram. The gold issue price for such investors would be Rs 4,540 per gram. The Reserve Bank issues sovereign gold bonds on behalf of the government.
The government had sold the first phase of gold bonds for the current financial year in April. Under this scheme, any person can buy a minimum of one gram of gold. The Sovereign Gold Bond Scheme was launched in November 2015. The goal of this scheme is to convert the savings made in households to purchase gold into financial savings and reduce the demand for physical gold.
