Sovereign gold bond opens May 17; issue price fixed at Rs 4,777/gm
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Last Updated: May 14, 2021, 09:26 PM IST
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The government, in consultation with the RBI, has decided to offer a discount of Rs 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode.
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The government has decided to issue the bonds in six tranches from May 2021 to September 2021. The RBI will issue the bonds on behalf of the Government of India.
MUMBAI: The issue price for Sovereign Gold Bond Scheme 2021-22, which will open for subscription for five days from May 17, has been fixed at Rs 4,777 per gram, the Reserve Bank of India said on Friday.
Analysts see gold at Rs 56,500 in 12 months. Is it a good time to buy? Rising coronavirus cases, continuous liquidity injections, rising inflationary expectations, economies growing on the back of debt, Middle East tensions, trade war between US and China and few other factors continue to boost the sentiment and build a strong case for higher gold prices, says Manav Modi, Analyst at Motilal Oswal
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Since the start of this year, gold has been under pressure as the dollar and US bond yields surged pricing in a swift turnaround of the US economy. The precious metal s journey has not been less than a roller coaster ride in CY 2021. The domestic prices of gold which eased after the COVID cases fell down towards the end of the last year, are witnessing a surge again as the coronavirus cases have risen to record levels. Analysts at Motilal Oswal Investment Services expect the gold price to hit Rs 56,500 in an year s time. On MCX, the gold is priced at around Rs 47,50