Sovereign Gold Bond (SGB) Scheme 2021-22: The five-day subscription to the 9th series of SGB 2022 starts today. Membership will be open to bidders till 14 January 2022. The Reserve Bank of India (RBI) said in a statement that the price of SGB has been fixed 4,786 per gram, 5 per gram less than your previous installment. Online subscribers will be given 50 per gram discount has been prescribed as issue price for bidders who pay digitally at the time of applying: 4736 per gram.
Here we list down important details regarding Sovereign Gold Bond Scheme 2021-22 Series 9:
– Subscription Date: The subscription for the 9th tranche of Sovereign Gold Bond Scheme 2021-22 has started from today and will be open for bidding till January 14, 2022.
– issue price: As mentioned above, the issue price of Sovereign Gold Bond Scheme 2021-22 Series 9 has been fixed at 4786 per gram.
– Discounts for online customers: Government of India (GoI), in consultation with RBI, has decided to offer exemption 50 per gram to the investors who apply online and the payment against the application is made through digital mode.
“For such (online or digital) investors, the issue price of the Gold Bond will be 4,736 per gram of gold,” RBI said.
– input range: The minimum allowable investment in Sovereign Gold Bond Scheme is one gram of gold. The maximum limit of membership per financial year (April-March) is 4 kg for individual, 4 kg for HUF and 20 kg for trusts and similar entities.
– KYC Eligibility: Know Your Customer (KYC) norms will be the same as for purchase of physical gold.
– Where to Apply: Sovereign Gold Bond Scheme 2021-22, Series 9 will be sold through Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognized stock exchanges – NSE and BSE.
– Subscribe or not: Whether to apply for Sovereign Gold Bond Scheme 2021-22 Series 9; Anuj Gupta, Vice President, Commodity & Currency Trade, IIFL Securities said, “Compared to the current MCX Gold rate, the issue price seems to be almost at a higher level. 30 to 35 per gram Since the outlook for gold for the next fortnight is with negative bias, we are expecting further correction in gold price and MCX gold price may come down. 47,000 as the US Fed announces interest rate hikes may be announced as soon as possible. Hence, by the end of the subscription date of this series, there may be further correction in the price of gold and hence I suggest investors to wait for the next series as the current series may turn costlier in the near future. 50 per gram till the end of its membership on January 14, 2022.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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