Synopsis
The sovereign gold bond scheme is best suited for those wishing to invest in the yellow metal for the long term, according to market experts.
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Sovereign Gold Bonds are substitutes of buying physical gold.
NEW DELHI: The series-IX of the sovereign gold bond (SGB) scheme 2020-21 opened for subscription on Monday. The issue comes at a time when gold prices are trading near Rs 50,000 per 10 gram, off record highs.
Prospective bidders, who intend to subscribe to the scheme, can bid for a minimum of 1 gm of gold at Rs 5,000 per gram. There will be a Rs 50 discount for investors bidding online. The issue closes on Friday, January 1. Bond certificates will be issued on January 5.