Hurry up ! The government is giving the opportunity to buy gold bond cheaply, from today

The corona virus has had a devastating effect on the global economy. Uncertainty in the future has led to a sharp decline in the stock markets. On the other hand, gold investors who consider themselves safe havens

New Delhi: The corona virus has hit the global economy hard. Uncertainty in the future has led to a sharp decline in the stock markets. On the other hand, gold investors who are considered safe havens have invested. As a result, the price of gold has skyrocketed. If you want to buy cheap gold, you can take advantage of the Sovereign Gold Bond Scheme, which is open for subscription from today. The second batch of gold bonds for the financial year 2020-21 will open for subscription on Monday. The last date for subscription to invest in this scheme is May 15.

Learn more about prices

The government has fixed the issue price of subscription gold bonds at Rs 4,590 per gram from Monday. However, if you can apply online and pay digitally, you will also get a discount of Rs 50 per gram. Thus, the issue price of gold for investors will be Rs 4,540 per gram. It may be mentioned here that gold prices have risen by 40 per cent in the last one year. Gold prices have risen on fears of a further global recession due to the coronavirus.

Learn the salient features of this scheme

The Reserve Bank issues sovereign gold bonds on behalf of the government. The government had in April sold the first tranche of gold bonds for the current financial year. Under this scheme, anyone can buy a minimum of one gram of gold. The Sovereign Gold Bond Scheme was launched in November 2015. The aim of the scheme is to change the financial savings made in households for the purchase of gold and reduce the demand for physical gold.

via CLIPHY