Sovereign Gold Bond 2021-22 – Series IX opens as we speak: All you want to know

The Sovereign Gold Bond Scheme 2021-22 – Series IX by the central authorities has opened for subscription as we speak, January 10, 2022, and it will likely be obtainable for 5 days till Friday, January 14, 2022. The Reserve Bank of India (RBI) has fastened the problem value at Rs 4,786 per gram.
Under this scheme, the RBI points the bonds on behalf of the Government of India. The bonds are offered via banks, Stock Holding Corporation of India (SHCIL), designated submit places of work, and recognised inventory exchanges – National Stock Exchange of India (NSE) and BSE.
The Government of India, in session with the central financial institution, has determined to supply a reduction of Rs 50 per gram on the nominal worth to these buyers who will apply on-line and the cost in opposition to their software is made via digital mode.
“For such investors, the issue price of gold bond will be Rs 4,736 per gram of gold,” the RBI stated in an announcement on Friday.

The concern value for Series VIII, which was obtainable for subscription from November 29–December 3 final 12 months was Rs 4,791 per gram.
The value of the bond is fastened in Indian rupees on the idea of a easy common of the closing value of gold of 999 purity, revealed by the India Bullion and Jewellers Association (IBJA) for the final three working days of the week previous the subscription interval.
The bonds are denominated in multiples of gram(s) of gold with a fundamental unit of 1 gram. The tenor of the bond will probably be for a interval of eight years with exit choice after fifth 12 months to be exercised on the following curiosity cost dates.
The minimal permissible funding is one gram of gold and the utmost restrict of subscription is 4 kg for particular person, 4 kg for HUF and 20 kg for trusts and related entities per monetary 12 months (April-March).
The sovereign gold bond scheme was launched in November 2015 with an goal to chop down the demand for bodily gold and shift part of the home financial savings – used for the acquisition of gold – into monetary financial savings.
Speaking on the sovereign gold bond scheme, Nish Bhatt, Founder and CEO at Millwood Kane International, stated, “SGB is an efficient way for investors looking to take exposure in gold. There is no storage cost, taxes as is the case in buying physical gold. Paper gold has a higher redemption value and can be easily used to take loans against it. SGB comes with a 2.5 per cent coupon attached and tax advantage for its investors.”
He additional famous that the scheme has been an enormous success for the federal government, because it has managed to boost over Rs 32,000 crores since its inception in 2015.

“Currently, gold prices are trading near a two-month low. Gold prices are almost Rs 9000/10 gm down from their peak witnessed in 2020. The weakness is mainly due to the minutes of the US Fed that indicated a faster rate hike and also a reduction in bond buying than earlier estimated,” Bhatt stated in an announcement.
Going ahead, the tempo at which the worldwide central banks will unwind their financial place, motion of the US greenback will information gold costs within the 12 months 2022, he famous.
-with PTI inputs