Wedding season is a great opportunity for those looking to buy and invest cheap gold. The eighth installment of the Government Gold Bond Scheme 2021-22 is opening for subscription from November 29, which will close on December 3. Reserve Bank of India RBI has fixed its price at 04 thousand,791 per gram.
Applications for the Sovereign Gold Bond (SGB) scheme can be submitted for five days from Monday, November 29. In this, investors who apply online and pay digitally will also get a discount of Rs 50 per gram. The issue price for such investors would be Rs.04 thousand,741 per gram.
It is noteworthy that Sovereign Gold Bonds are government securities, whose value is denominated in grams of gold. This is a great option for common people to keep physical gold. Investors investing in this will have to pay the issue price in cash and the bond can be redeemed in cash on maturity. RBI issues bonds on behalf of the Government of India. The Sovereign Gold Bond Scheme was started by the government in the year 2015.