Sovereign Gold Bond Scheme: Amidst the Russo-Ukraine War, the latest issue of Sovereign Gold Bond opened for subscription on 28 February 2022 and will remain open for subscription till 4 March 2022. Rising Ukraine-Russia tensions helped the gold price rise to an 18-month high. in the domestic market. However, the yellow metal witnessed heavy profit booking and declined within 48 hours. But, analysts are still bullish about the precious bullion metal. Currently, the retail price of gold in India is around 53,000 per 10 grams, which is approximately . Is Over the issue price of 2000 Sovereign Gold Bonds 51,090 per 10 grams. In fact, those who are applying online and paying through digital gateway will have to pay only 50,590 per 10 grams is like A discount of Rs 50 per gram is being given to online customers making digital payments. So, Sovereign Gold Bond is available at attractive discount since 2000 There is still one more day left to bid 2400 more.
According to commodity market experts, one should subscribe to this offer of the Government of India (GoI). He said that this golden opportunity should not be missed and subscribe to Sovereign Gold Bond.
To advise investors to subscribe to Series X of Sovereign Gold Bond Scheme 2021-22; Anuj Gupta, Vice President, IIFL Securities said, “Gold price today on MCX is close 51,700 per 10 grams. If we add the landing value of 1500 per 10 grams in this, so the retail price will drop anywhere in India 53,200 per 10 grams. So, the price of Sovereign Gold Bond Available at a discounted price of 51,060 per 10 grams 2,000 for offline customers while for an online customer paying the issue price digitally, it is available at a discount 2500 per 10 grams. Therefore, one should not miss this opportunity and subscribe to this golden opportunity being offered by the Government of India through Reserve Bank of India (RBI).”
Anuj Gupta of IIFL Securities said that even when the Sovereign Gold Bond was at par with the retail gold price, he would have suggested to ‘subscribe’ to this Government of India offer as it is for longer duration. He said that the price of gold has increased by close to 70 per cent in the last 5 years and hence, there is no harm in implementing this long term gold investment plan.
Excellent returns expected for long term gold investors; Pankaj Mathpal, MD & CEO, Optima Money Managers, said, “It is a great time to invest in Sovereign Gold Bond Scheme as gold is expected to give around 10-12 per cent returns in the next few years. Hence, the best time to invest in gold is Such attractive exemption should not be allowed for 5 years or more and should apply for the latest tranche of Sovereign Gold Bond Scheme.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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