Today, the price of gold and silver declined in the national capital in line with global markets. According to HDFC Securities, the price of gold in the domestic market fell by Rs 369 to Rs 48,388 per 10 grams. The yellow metal had closed at Rs 48,757 per 10 grams on the previous trading day.
Silver became cheaper by Rs 390
Talking about silver, today the price of silver fell by Rs 390 to Rs 64,534 per kg as against Rs 64,924 per kg in the previous trading session. In the international market, gold and silver stood at US $ 1,842 per ounce and the US $ 25.21 per ounce respectively.
Sovereign Gold Bond Scheme open to investors
Investors can buy gold at a much lower price than the market price under the Sovereign Gold Bond scheme. The scheme is open for only five days and 11 January 2021 was its first day. The scheme will remain open till 15 January 2021. Under the scheme, you can buy gold at Rs 5,104 per gram. That is, if you buy 10 grams of gold, then it costs Rs 51,040 and if the gold bond is purchased online, then the government gives an additional rebate of Rs 50 per gram to such investors. In this, payment for applications has to be made through 'digital mode'.
Will get much interest
Gold bonds have a maturity period of eight years and get an interest of 2.5% per annum. The interest accrued on the bond is taxable as per the tax slab of the investor but is no tax deducted at source (TDS). The Sovereign Gold Bond Scheme was launched in November 2015, aimed at reducing the spot demand for gold and converting a portion of domestic savings used for the purchase of gold into financial savings.