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February 22, 2024
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Sovereign Gold Bonds Scheme 2023-24 offers golden opportunity to invest in gold at discounted rates

Sovereign Gold Bonds: If you’ve been eyeing an opportunity to invest in gold at a more affordable rate than the market offers, your chance has arrived. The Reserve Bank of India (RBI) is launching the Sovereign Gold Bond scheme today, starting from the 18th of December. This investment opportunity extends until the 22nd of December, providing a five-day window for interested investors.

The RBI announced that applications for the Sovereign Gold Bond can be submitted starting Monday. The scheme offers a secure way to invest in gold, allowing individuals to purchase the precious metal at rates lower than the current market value.

As per the RBI statement released last Friday, the Sovereign Gold Bond (SGB) Scheme 2023-24 Series-3 is open for investment during the period from December 18 to December 22, 2023. The price of the gold bond with 999 purity is set at Rs 6,199 per gram, providing an attractive proposition for potential investors.

One notable incentive for those making online payments for their gold bond investments is the discount offered by the Central Government. Online applicants who opt for digital payments will receive a Rs 50 per gram discount from the face price, adding an extra benefit for those who choose the convenience of digital transactions.

Investors have multiple avenues to purchase Sovereign Gold Bonds, including Scheduled Commercial Banks (excluding Small Finance Banks, Payment Banks, and Regional Rural Banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices, and major stock exchanges such as the National Stock Exchange India Limited (NSE) and Bombay Stock Exchange Limited (BSE).

This initiative not only provides an attractive investment opportunity but also encourages the adoption of digital transactions, aligning with the government’s push towards a more cashless economy. Whether you choose to invest online or through traditional banking channels, the Sovereign Gold Bond Scheme 2023-24 offers a golden chance to diversify your investment portfolio with the timeless allure of gold.

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