Series 9 opens today. Should you subscribe?

Sovereign Gold Bond (SGB) scheme 2021-22: 5 day subscription of the ninth sequence of SGB 2022 is opening right this moment. The subscription will stay open for bidders until 14th January 2022. The Reserve Financial institution of India (RBI) knowledgeable in a press release that SGB worth has been fastened at 4,786 per gram, 5 per gm decrease from its earlier tranche. On-line subscribers might be given 50 per gm leisure as situation worth for these bidders who pay digitally whereas making use of has been fastened at 4736 per gm.

Right here we listing out necessary particulars in regard to Sovereign Gold Bond scheme 2021-22 sequence 9:

– Subscription date: Subscription for the ninth tranche of Sovereign Gold Bond scheme 2021-22 opens right this moment and it’ll stay open for bidding until 14th January 2022.

– Problem worth: As talked about above, situation worth of the Sovereign Gold Bond scheme 2021-22 sequence 9 has been fastened at 4786 per gm.

– Low cost for on-line subscribers: The Authorities of India (GoI), in session with the RBI, has determined to supply a reduction of 50 per gram to these buyers making use of on-line and the cost in opposition to the applying is made by digital mode.

“For such (on-line or digital) buyers, the problem worth of gold bond might be 4,736 per gram of gold,” the RBI mentioned.

– Funding restrict: Minimal permissible funding allowed in Sovereign Gold Bond scheme is one gram of gold. The utmost restrict of subscription is 4 kg for particular person, 4 kg for HUF and 20 kg for trusts and comparable entities per fiscal (April-March).

– KYC eligibility: The know-your-customer (KYC) norms would be the identical as that for buy of bodily gold.

– The place to use: Sovereign Gold Bond scheme 2021-22, sequence 9 might be bought by banks Inventory Holding Company of India Restricted (SHCIL), designated publish places of work and recognised inventory exchanges — NSE and BSE.

– Subscribe or not: Whether or not one ought to apply for the Sovereign Gold Bond scheme 2021-22 sequence 9; Anuj Gupta, Vice President — Commodity & Forex Commerce at IIFL Securities mentioned, “In comparison with present MCX gold charge, the problem worth appears on the upper facet by round 30 to 35 per gm. As outlook for gold for subsequent fortnight is sideways with damaging bias, we expect additional correction in gold worth and MCX gold worth might come beneath 47,000 as US Fed has introduced that rate of interest hike will be introduced earlier than anticipated. So, by the tip of subscription date of this sequence, there will be additional correction going down in gold worth and therefore my suggestion to buyers is to attend for subsequent sequence as the present sequence might end up dearer by close to 50 per gm by the tip of its subscription on 14th January 2022.”

Disclaimer: The views and proposals made above are these of particular person analysts or broking firms, and never of Mint.

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