Good news for those who invested in gold bonds. They will get a lot of reviews. Investors in Sovereign Gold Bonds introduced by the Reserve Bank will get not double but triple returns.
But this is applicable only to those who invested in the first tranche of bonds issued. RBI introduced this scheme in 2015 with the intention of reducing purchases of physical gold in the country. These bonds brought with a tenure of 8 years will expire on November 30 this year. Although the price on the maturity of the bonds has not been decided yet, it seems that if we calculate with the current gold price, there is a possibility of getting good profits. RBI issues these gold bonds in every financial year. The subscription dates for this will be announced. The average price fixed by the India Bullion and Jewelers Association Limited for gold of 99.9 purity during the last three working days of the week preceding the subscription is taken into account to determine the price per gram. Now it will be applicable in case of maturity also. 🔄
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