AS GOLD PRICES have dropped 5% from the all-time high levels in May, individuals can invest in Sovereign Gold Bonds (SGBs), the first series for this financial year announced by the Reserve Bank of India. The price has been fixed at ₹5,926 per gram, and those investors applying and paying using digital modes will get a discount of ₹50 per gram. The issue is open for subscription till June 23.
Investors will get interest on SGBS at 2.5% payable half yearly. Investment in these bonds eliminates storage costs and is easier to sell than physical gold. In fact, SGB has posted double-digit gains since its inception in 2015 and the investment has helped the RBI raise over ₹30,000 crore since its inception.
Experts say as the outlook on gold prices remains positive, the minor correction is a good entry opportunity for long-term allocation to the metal. The recent moves by the US Fed capped gains for gold, leading to softness in the prices. A decline in interest rates has a positive correlation with gold prices as it reduces the opportunity cost of holding the metal.
هذه القصة مأخوذة من طبعة June 21, 2023 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة June 21, 2023 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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