After a sharp rise in the previous session, there was a huge fall in the prices of gold and silver on Friday. Around 10 am today, August futures on MCX fell by Rs 320, or 0.7 per cent, to Rs 47,082 per 10 grams. On Thursday, the gold price on MCX went up by 800 rupees. Like, silver July future prices on MCX today fell by 850 to 47,805 per kg. Silver had gained over 1% in the previous session. Experts say that the strength of the dollar has had an impact on gold prices. Apart from this, investors have booked profit in precious metals.
In the international market, gold prices today saw steady trading. Due to the strengthening of the US dollar, spot gold was trading at $ 1,727.24 an ounce in the overseas market today, while silver was trading down 0.4% at $ 17.64 an ounce. Today, platinum rose 0.2% to $ 812.37 an ounce. Since mid-March, gold prices in the foreign market have jumped 20 percent.
The dollar index rose 0.1% to 96.835. Due to this, gold prices have gone up in other currencies of the world (except dollar), due to which the demand for gold has decreased. Holding of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund or ETF, continues Grown the next day. Its holding rose 0.5% to 1,135.05 tonnes on Thursday. If you are planning to invest in gold, then there is another great opportunity to invest in Sovereign Gold Bond (SGB). Investment in Series-3 of the Sovereign gold bond scheme 2020-21 has opened from Monday (8 June). Investment can be made in this scheme by 12 June 2020. The Reserve Bank of India has also fixed prices for this scheme. The Sovereign Gold Bond price has been fixed at Rs 4,677 per gram for this series.
Discount on online purchase by applying online:
The government has decided to give a rebate of Rs 50 per gram to investors applying online and making digital payments. Such investors will have to pay Rs 4,627 per gram as the issue price of the bond.
Bonds can be purchased from here:
Through commercial banks, Stock Holding Corporation of India Limited (SHCIL) and select post offices and stock exchanges like National Stock Exchange of India Limited and Bombay Stock Exchange.
How much gold can you buy?
Under this scheme, the smallest bond will be equal to 1 gram of gold. A person can buy a bond of maximum 500 grams of gold in a financial year. Overall, the limit for buying bonds individually is 4 kg, while 20 kg has been kept for the trust or organization.
How much will be the interest?
When you invest in these bonds, apart from the benefits of rising gold prices, these bonds also pay 2.50 percent interest annually. This interest is paid in six months. The minimum limit for investment in these bonds is one gram.
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