Sovereign Gold Bonds will be available at an issue price of Rs 4,912 per unit
Sovereign Gold Bond: The eleventh tranche of the government s Sovereign Gold Bond (SGB) scheme will open for subscription on Monday, February 1, for a period of five days till Friday (February 5). As part of the gold bond scheme, the Reserve Bank of India issues interest-paying bonds linked to the market price of the yellow metal. After the current series, the gold bond scheme will be available one more time in March 2021. For the eleventh installment of the gold bond scheme, an issue price of Rs 4,912 per unit, equivalent to the value of one gram of gold, is applicable, according to the central bank. (Also Read: Budget 2021: Section 47 Of I-T Act Must Be Amended With Respect To Gold Bonds Scheme )
Gold Bond Scheme: The tenth tranche of the sovereign gold bond scheme, which opened for subscription on Monday, January 11, will be available for investing till Friday (January 15)
Benchmark Gold Rate Can Surge Past $2,300/Ounce In 2021: Analysts Benchmark Gold Rate Can Surge Past $2,300/Ounce In 2021: Analysts Domestic gold rates are derived by the global benchmarks by taking into account currency changes
Domestic spot gold climbed up around 28% in 2020.
Gold has eased more than 9 per cent from all-time highs registered in late 2020, hurt by optimism around the development of COVID-19 vaccines which takes away the safe-haven appeal of the yellow metal. In August last year, domestic gold futures had surged to a life-time high of Rs 57,100 per 10 grams. Still, many analysts expect the precious metal to be headed for higher levels in 2021. Why? Easy monetary policies in major economies weighing on currencies along with rising global debt is likely to continue to support gold rates going forward, they say.
The Sovereign Gold Bonds come with a maturity period of eight years.
Sovereign Gold Bonds: Bonds under the government s Sovereign Gold Bond programme are available for purchase till Friday, January 1, 2021. This is a ninth tranche of the gold bond scheme, which will be followed by three more instalments which will be available for five days each till March 2021. For the current series, an issue price of Rs 5,000 per unit is applicable. One unit is equivalent to the price of one gram of gold in the spot market. But how is this price calculated?
Here s how the SGB price is calculated: