RBI to Sell Sovereign Gold Bonds from June 19: What You Need to Know
The Reserve Bank of India (RBI) is set to sell the first series of Sovereign Gold Bonds for the current financial year from June 19, 2023. The sale will continue for five days until June 23, offering investors a chance to buy gold at a discounted price. Here are the key details you need to know:
Investment and Purchase Limit: Investors can buy a minimum of 1 gram of gold in RBI’s Sovereign Gold Bond, with a maximum purchase limit of 4 kg. HUFs can also buy up to 4 kg of gold in this scheme. However, up to 20 kg of gold can be purchased in the Sovereign Gold Bond Scheme in the name of the trust.
Where to Invest: Sovereign Gold Bonds can be bought through all banks, including Stock Holding Corporation of India Limited and Clearing Corporation of India Limited, as well as through special post offices. Investors can also buy Sovereign Gold Bonds from National Stock Exchange and Bombay Stock Exchange.
Discounts for Online Purchases: RBI announces the rate before issuing Sovereign Gold Bond Scheme and those who do the entire process online are given a discount of Rs 50 per gram. In this way, gold can be bought cheaply.
Allotment and Selling: Sovereign Gold Bonds are normally allotted for 8 years, but they can be sold in between if money is needed. RBI allows selling of Sovereign Gold Bonds even after 5 years.
Investing in gold bonds is considered a good option for those who want to invest in gold online and earn more. RBI sells these gold bonds cheaply, but also pays interest on them every year, making them more beneficial.
In conclusion, the sale of Sovereign Gold Bonds by RBI provides an opportunity for investors to buy gold at a discounted price. With a chance to invest from June 19 to June 23, those interested in buying gold bonds should take advantage of this opportunity.
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