Sovereign Gold Bond Scheme: Govt To Sell Second Tranche Of Yellow Metal Next Week; Check Date, Price, Discount

New Delhi: The Indian government is about to sell the gold at the lower cost under ‘the Sovereign Gold Bond Scheme’ starting from September 11. It will be the second installment of the current fiscal year of the SGB scheme.

This is a great opportunity for investors to invest in gold, a safe and secure asset backed by the Central Government. Let’s see the important information regarding the upcoming SGB installment.

At what cost you will get the gold?

RBI announced on Friday that the next installment of SGB has been fixed at Rs 5,923 per gram.

Selling starting from Sep 11

RBI (Reserve Bank of India) has announced that the sale of this gold bond will commence on September 11th. This will be the second tranche of SGB (Sovereign Gold Bond) for the current financial year. According to RBI, the price of SGB is fixed at Rs 5,923 per gram based on the simple average of closing price of gold of 999 purity.

Discount for Online and Digital Investors

After discussions with RBI, the government has decided to give a discount of Rs 50 per gram on the issue price to investors applying online and making the payment through digital mode. According to the statement, the issue price for such investors is Rs 5,873 per gram of gold. The issue will remain open from September 11th to September 15th.

Where Can You Buy Gold?

The sale of the bond will be made through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognized stock exchanges BSE and NSE.

Launched in November 2015

The sale of Sovereign Gold Bonds (SGBs) started in November 2015 as a means to reduce the demand for physical gold and promote household savings.