Government will sell cheap gold from Monday, price of 1 gram released, know how to buy

SGB issue price: The price of gold in the country's capital Delhi (Gold Price Today) is currently around Rs 6,330 per 10 grams. But the government is giving you a chance to buy gold at a lower rate. The government has fixed the price at Rs 6,263 per gram for the Sovereign Gold Bond tranche being launched from Monday. The Reserve Bank of India said in a statement on Friday that the Government Gold Bond (SGB) will open for five days from Monday. Government Gold Bond Scheme 2023-24 Series Four will be open from 12th to 16th of this month. “The value of the bond is Rs 6,263 per gram of gold,” the central bank said.

Discount on applying online

The Government of India has decided to give a discount of Rs 50 per gram on the issue price to investors who apply online and make payment through digital means. RBI said that the issue price of gold bonds for such investors will be Rs 6,213.

You can buy gold bonds from here

SGBs are approved by Scheduled Commercial Banks (except Small Finance Banks, Payment Banks and Regional Rural Banks), Stock Holding Corporation of India Limited (SHCIL), Settlement Corporation of India Limited (CCIL), Designated Post Offices, National Stock Exchange India Limited and BSE Limited. Will be sold through. The Central Bank i.e. RBI issues gold bonds on behalf of the Government of India. These can be sold only to resident individuals, Hindu Undivided Families (HUF), trusts, universities and charitable institutions. The maximum limit for subscription is four kilograms for individuals, four kilograms for HUFs and 20 kilograms for trusts and similar entities per financial year. The Gold Bond Scheme was introduced in November 2015 with the intention of reducing the physical demand for gold.

How to buy Sovereign Gold Bond online

• Log in to your Internet Banking account.
• Go to Main Menu, select 'e-Services' and click on 'Sovereign Gold Bond'.
• If you are a new customer, click on 'Register'. Read and accept the terms and conditions set by the Reserve Bank of India before proceeding.
• Enter all the required details related to the SGB scheme and provide information about the deposit partner from CDSL or NSDL depending on your demat account.
• Submit the online registration form.
• After registration either select the purchase option from the header link/section or directly click on 'Buy'.
• Enter the subscription quantity and nominee information.
• Enter the OTP sent on your registered mobile number.