In the second wave of Corona epidemic, gold is again becoming expensive. The price of 24 carat gold has reached 48,472 per 10 grams. In such a situation, if you are planning to buy gold, then the government is still giving you an opportunity to buy cheaper gold than the market price.
Under the Sovereign Gold Bond Scheme, you will be able to invest in gold at the rate of 47,770 per 10 grams. This price is 702 rupees less than the market. In such a situation, you can earn more by investing in Sovereign Gold Bonds. The scheme will remain open till May 21.
Those who apply for them online and pay through digital payment will get a discount of 50 rupees per gram. That is, if you take gold bonds through these means, then you will get an additional benefit of 500 rupees per 10 grams. In such a situation, if you buy 10 grams of gold online, then you will get a direct benefit of Rs 1205.
Sovereign gold bonds earn a fixed interest of 2.50% every year on the issue price. This money is automatically deposited in your account every 6 months. You do not get this kind of benefit on physical gold and gold ETFs. According to the information given on the NSE website, Sovereign does not incur any tax on its benefits after 8 years of maturity period. Also, there is no TDS on the interest paid every six months.
Pankaj Mathpal, founder and CEO of personal finance expert and Optima Money Managers, says this is the right time to invest in gold. Because there is still an uncertain atmosphere in the world due to corona and according to scientists, the third wave of corona is yet to come in the coming months. In such a situation, gold can become more expensive in the coming days. That is why it will be beneficial to invest in gold now.
So far, gold has been costlier by Rs 1,681 in this month. On April 30, gold was at Rs 46,791 per 10 grams which has come down to Rs 48,472 on May 19. Earlier in April, gold was costlier by Rs 2,601. That is, gold has been costlier by Rs 4,282 since April.
Sovereign gold bond is a government bond. It can be converted into demat. Its value is not in rupees or dollars, but in the weight of gold. If the bond is five grams of gold, then the price of five grams of gold will be the same as the price of the bond. To buy it, the authorized broker of SEBI has to pay the issue price. At the time of redeeming the bond, the money gets deposited in the investor's account. This bond is issued by the RBI government.
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