Sovereign Gold Bond Scheme: Amid Russia-Ukraine battle, newest subject of sovereign gold bond opened for subscription on twenty eighth February 2022 and it’ll stay open for subscription until 4th March 2022. As escalating Ukraine-Russia rigidity has helped gold value to surge as much as its 18-month excessive in home market. However, the yellow metallic witnessed heavy profit-booking there and got here down inside 48 hours. But, analysts are nonetheless bullish on the dear bullion metallic. Currently, retail gold value in India is round ₹53,000 per 10 gm, which is round ₹2000 greater from the sovereign gold bond subject value of ₹51,090 per 10 gm. In reality, for individuals who are making use of on-line and paying by digital gateways, they must pay solely ₹50,590 per 10 gm as there may be ₹50 per gm rebate being given to the net subscribers paying digitally. So, sovereign gold bond is offered at profitable low cost of ₹2000 to ₹2400 and there may be nonetheless yet one more day left for bidding.
According to commodity market consultants, one ought to subscribe to this Government of India (GoI) supply. They stated that one mustn’t miss this golden alternative and subscribe to sovereign gold bond.
Advising buyers to subscribe to the Series X of Sovereign Gold Bond Scheme 2021-22; Anuj Gupta, Vice President at IIFL Securities stated, “MCX gold price today is around ₹51,700 per 10 gm. If we add landing price of ₹1500 per 10 gm in it, then the retail price anywhere in Indian would fall around ₹53,200 per 10 gm. So, Sovereign gold bond price of ₹51,060 per 10 gm is available at a discounted price of near ₹2,000 for offline subscribers whereas for an online subscriber paying issue price digitally, it is available at a discount of ₹2500 per 10 gm. So, one should not miss this chance and must subscribe to this golden opportunity being offered by the GoI via Reserve Bank of India (RBI).”
Anuj Gupta of IIFL Securities stated that even when the sovereign gold bond had been at par with the retail gold value, he would have recommended ‘subscribe’ to this GoI supply as it’s for long-term time horizon. He stated that in final 5 years, gold value has surged close to 70 per cent and therefore, there isn’t any hurt in making use of to this long-term gold funding scheme.
Expecting stellar return for long-term gold buyers; Pankaj Mathpal, MD & CEO at Optima Money Managers stated, “It’s very good time to invest in sovereign gold bond scheme as the yellow metal is expected to give around 10-12 per cent return in next few years. So, investing in gold for 5 years or more at such a lucrative discount should not be missed and one must apply for the latest tranche of Sovereign Gold Bond Scheme.”
Disclaimer: The views and proposals made above are these of particular person analysts or broking corporations, and never of Mint.
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