The first series of the sovereign gold bond issue by government of India for the current fiscal 2017-18 is open for subscription during April 24-28. The issue price is fixed at Rs.2,901 per gram — at a Rs.50 discount on last week’s average price of Rs.2,951. The bonds will be issued on May 12. By investing in this bond one can gain up to Rs.500 per 10 grams or 1.7% gain on the invest made.From Jan 2017 till April 21,2017 , gold prices have jumped over 6 per cent to Rs 29,328 per 10 gm.Most of the research firms have predicted the outlook of gold to be promising.
Highlights of Sovereign gold Bond:
- Get Rs.50 discount on the last week’s average price.
- Get interest of 2.5% p.a on the investment which will be credited to your bank account every six months.
- No capital gains tax.
- No purity worries on gold.
- No making or waste charges.
- You can hold it in demat form.
How to apply or buy Sovereign gold bond?
- Approach your bank or stock broker or the post office.
- Online Mode
- Login into your internet banking account and fill the details to invest.
- If you have an online trading account, you can login and buy in few seconds.
- The units will be credited to your demat account.
- Offline mode
- If you buy in post office, a bond certificate will be issued