Gold is getting ₹2000 cheaper than the market, expert said - don't miss it, grab it

Gold is getting ₹2000 cheaper than the market, expert said – don’t miss it, grab it


new Delhi. Sovereign Gold Bond Scheme: Amidst the Russo-Ukraine war, the Indian government has opened the window from 28 February 2022 to sell gold cheaply. This window will close on March 4. In the Sovereign Gold Bond Scheme, a discount of about Rs 2 thousand is being given in the price of gold, which is similar to ‘gold on euphoria’ for those who want to invest in gold.

Due to the Russia-Ukraine crisis, gold has seen a rise these days, because big investors rely on gold the most for safe investments. Due to this crisis, gold was seen in the domestic market at its highest level of 18 months. However, after that a huge profit booking came in and it came down within the next 48 hours. But market-savvy experts still consider investing in gold as a better option.

At present, the retail price of gold in India is around Rs 53,000 per 10 grams, which is Rs 2,000 more than the gold being bought under the Sovereign Gold Bond Scheme. Under the Sovereign Gold Bond Scheme, for every 10 grams of gold, only Rs 51,090 will have to be paid.

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Those applying online and paying through the digital gateway will only have to pay ₹50,590 per 10 grams, as an additional discount of ₹50 per gram is being given to customers making digital payments. So, Sovereign Gold Bond is available at an attractive discount of ₹2000 to ₹2400.

What is the opinion of experts on SGB

According to commodity market experts, this offer of the Government of India should be subscribed. He said that this golden opportunity should not be missed at all and subscribe to the Sovereign Gold Bond.

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Anuj Gupta, Vice President, IIFL Securities, was quoted by Live Mint as writing, “Gold price on MCX today is around ₹ 51,700 per 10 grams. If we add the landing price of ₹ 1,500 per 10 grams to this, the retail price anywhere in India would be around ₹ 53,200 per 10 grams. Sovereign Gold Bond is available at a price of ₹ 51,060 per ten grams, meaning it is available at a discounted price of around ₹ 2,000, while for an online customer paying digitally, the discount goes up to around ₹ 2,500 per ten grams. Therefore, one should not miss this opportunity and grab this golden opportunity being offered by the Government of India through the Reserve Bank of India (RBI).”

Anuj Gupta of IIFL Securities also said that go for this offer of the Government of India and keep it for a long time. In the last five years, gold prices have jumped by 70 percent, so there is no harm in investing in gold for a long time.

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Expecting great returns for long-term gold investors, Pankaj Mathpal, MD & CEO, Optima Money Managers said, “It is a great time to invest in Sovereign Gold Bond Scheme as the next few years Gold is expected to give around 10-12 percent returns. So, to invest in gold at such an attractive discount one should invest for 5 years or more.”

Tags: gold investment, Sovereign gold bond


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