The first tranche of Sovereign Gold Bond (SGB) scheme of 2024 has opened for subscription from today. The price of current issue of SGBs is Rs 6263 per gram and Rs 62,630 per 10 gram.
If you are interested in building wealth by investing in Gold, you may consider SGB as it is one of the most efficient ways for investing in the yellow metal.
SGB is considered hassle-free and safe for making Gold investments. Compared to the current market price of Gold, SGB also offers investors a chance to invest in the yellow metal at a lesser price.
For instance, the price of 24 carat physical Gold today is around Rs 64,150 per 10 gram. However, the price of SGBs per 10 gram is just Rs 62,630, which is Rs 1520 less than the retail physical gold price.
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Further, you can get a discount of Rs 50 per gram if investing in SGB online. For 10 gram gold, the discount will be Rs 500. Adding this to the above, you can invest in 10 gram of SGB at Rs 2000 less than the market price of physical gold!
To avail the Rs 50/gram discount, you need to apply and pay online.
“Government of India in consultation with the Reserve Bank of India has decided to allow discount of ₹50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode,” Ministry of Finance said in a statement.
Before investing, however, you should consult your financial advisor to check whether buying new SGB units will add value to your existing investment portfolio or not. (Know how SGB income is taxed)
Sovereign Gold Bond Scheme 2023-24 (Series IV) Issue Price, Key Dates
The Sovereign Gold Bond 2023-24 (Series IV) opened for subscription today (February 12). The subscription period will remain open till February 16 (Friday). The settlement date is February 21, 2024.
As per RBI, the issue price of the Bond during the subscription period will be Rs 6263 per gram.
Taking the online discount of Rs 50 per gram into consideration, effective purchase price for online applicants will be Rs 6213 per gram of Gold and Rs 62130 per 10 gram of Gold.
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Disclaimer: The above content is for information purposes only. Please consult SEBI-registered investment advisor before investing in any financial product.
