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Sovereign Gold Bond Series VII opens on Monday | Check issue price, subscription, eligibility, other details : Rashtra News Sovereign gold bond Series VII: The government's Sovereign Gold Bonds Scheme 2021-22 will be opened for subscription during the period October 25-29, and the settlement date has been set at November 2. The bond will be
Indians hold a unique and unexplained fondness for gold that goes beyond its market value. Opting for SGBs can provide a means to invest in gold without the complications of storing and securing physical gold assets.
The price of SGB is based on the simple average of the closing gold price of 999 purity of the previous three business days from the date of redemption as published by the India Bullion and Jewellers Association Ltd (IBJA). In this case, the three business days are between December 13 and December 15.
The RBI disclosed the gold redemption price for investors in Sovereign Gold Bonds seeking early redemption of government-issued bonds.
Gold and silver take centre stage during the festive season in India as reliable investment bets. They are also seen as a hedge in times of economic uncertainty or geopolitical tensions, like the current war in the middle east. Though both metals have largely underperformed the stock market in recent years, they rose sharply after hostilities started in Gaza. Business Today magazine’s The Point decodes gold price, silver rate outlook and other key figures. Watch this Visual Story to know more.