The Sovereign Gold Bonds come with a maturity period of eight years.
Sovereign Gold Bonds: Bonds under the government s Sovereign Gold Bond programme are available for purchase till Friday, January 1, 2021. This is a ninth tranche of the gold bond scheme, which will be followed by three more instalments which will be available for five days each till March 2021. For the current series, an issue price of Rs 5,000 per unit is applicable. One unit is equivalent to the price of one gram of gold in the spot market. But how is this price calculated?
Here s how the SGB price is calculated:
Sovereign Gold Bond scheme to open today: 10 things to know
The value of the bond is based on the simple average closing price (published by the India Bullion and Jewellers Association Ltd) for gold of 999 purity of the last three business days of the week preceding the subscription period, that is, December 22-24
BusinessToday.In | December 28, 2020 | Updated 11:45 IST
Sovereign Gold Bond 2020-21 is issued by the Reserve Bank India on behalf of the Government of India
The latest installment of the government-run Sovereign Gold Bonds (SGBs) 2020-21- Series IX- will open for subscription today. The last date for subscription is January 1, 2021, with January 5 as the settlement date. The issue price for the next series of sovereign gold bonds is fixed at Rs 5,000 per gram, the Reserve Bank of India said in a statement on Thursday.
Synopsis
For Indians, buying gold is a tradition. The asset is never sold except in extreme emergencies and is handed down from generation to generation. However, this is not a good financial planning strategy, especially after the recent rally in gold.
Getty Images
Shifting your gold holding to sovereign gold bonds is a smart move. The 2.5% interest is its main attraction.
Related
ET Wealth reached out to experts to know how investors can safeguard their finances from the volatility that raged in 2020 and the uncertainty that looms in the horizon. This week’s cover story explains 11 steps that one should take now to improve one’s finances in the New Year.
Share Market Highlights: Sensex ends at 47,353 for first time, Nifty at 13,873; SBI, Titan, L&T top gainers December 28,2020 15:51 IST
Sensex, Nifty Highlights on December 28: Market indices touched new record highs on Monday tracking gains in index majors, amid positive cues from global equities. Here s a look at the updates of the market action on BSE and NSE today
Closing
Market indices ended at new record highs on Monday, tracking gains in index majors, amid positive cues from global equities. Sensex ended 380 points higher at 47,353 and Nifty gained by 123 points to close at 13,873. During today s session, Sensex has hit an all-time high of 47,406 and Nifty logged a lifetime high of 13,885