What is Sovereign Gold Bond?
Sovereign Gold Bond are RBI mandated certificates issued against grams of gold, allowing individuals to invest in gold without the strain of safekeeping their physical asset. Sovereign gold bonds act as a secure investment tool among individuals, as gold prices are less susceptible to market fluctuations.
Gold and silver rates increasing day by day. The price of both these precious metals has reached its lifetime. At the same time, People will also get the opportunity to buy gold at a cheap price. The central government has launched its Sovereign Gold Bond (SGB) Scheme.
On the Multi Commodity Exchange at 10:10 am on August 5, 2020, the price of gold was moving up by rs 105, 0.20% to 53,550 per 10 grams. There was a tremendous rise in silver price on MCX. Silver was trading at 65,633.00 per kg with gain of rs 649.00.
Latest Price of Gold and Silver
July 2020, Gold has become expensive by rs 5,500 and silver by 12,500. Gold prices are the highest so far, while silver has touched the figure of 62 thousand for the second time in 8 years. In the year 2012 , the price of silver has reached a record 70 thousands rupee kg. With the rapid rise in silver prices, it is likely that silver will break its own price record in the month of august.
Sovereign Gold Bond Scheme
Sovereign gold bond scheme launched the Reserve Bank of India has fixed the offer quality of the Sovereign gold bond scheme at 5,334 per 10 grams. This offer will be between 3 to 7 August 2020. According to the reserve bank, the offer digit of the Sovereign Gold Bond 2020-21 plan 2020-20 series-5 will be rs 5,334 per gram. The proposal came from 6 to 10 july. According to the statement, those paying online BONID will get a rebate of rs 50 per gram.
How much You can buy Gold in this Scheme?
There are some rules for buying gold under the Sovereign Gold Bond Scheme. In this scheme, any person can buy gold bonds of maximum 500 grams in a business year. The minimum investment in this bond is one gram. Its investors also get tax rebate. investor can also take loans from bank through the scheme.
Another Special thing is that on the gold purchased in this scheme, you also get interest at an annual rate of 2.5%. In this scheme, gold is not bought and kept at home. Rather, it has to be used as an investment in bonds. Gold bonds have a duration of 8 years. After this, you have the option of exit after fifth year. The sale of gold bonds is done directly or through their agents through banks, designated post offices, stock holding corporation of India limited and stock exchange.
Why Gold and Silver Sales Fall?
Due to the covid-19 epidemic, there has been a big decline in the purchase and sale of gold and silver rate nowadays. Especially on Madhya Pradesh, there ia a claim 80% drop in bullion business. Meanwhile, the businessman of the unorganized bullion industry have decided to take the digital route to sell gold before the festive season. Under this, these businessman will also sell their products through mobile app and websites.
Gold and Silver Rate Today
Gold and silver continue increasing the value of cost day by day. every person note everyday gold rate and silver rate for invest, but it is very costly. If we are talk about today’s (5 August 2020) rate of Silver and Gold That’s
Today Gold Price:-
22 Carat Gold Price– 10 gram ₹53,400
24 Carat Gold Price– 10 gram ₹54,400
Today Silver Price– 1Kg ₹71,500
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