Zee Media Bureau
New Delhi: Dhanteras is the best time of the year for buying gold. The Finance Ministery has released another tranche of Sovereign Gold Bond for a special period of 24th October to 2nd November, which is offering a discount of Rs 500 on buying 10 grams of gold.
The issue price of the gold bond is Rs 2,9570 per gram. Gold price on Thursday stood at Rs 30,700 per 10 grams.
The advantages of investing in Sovereign Gold Bond are many:
Zero risk from handling physical gold; purity of gold guaranteed.
Assured interest at the rate 2.5 percent per annum payable every 6 months on initial investment of Rs 3,007 per gram.
Capital gains tax exempted on redemption for individuals
Can be used as collateral for loan
Its a 8-year tenure bond with exit options in the 5th, 6th and 7th year.
The gold bonds are tradable through stock exchanges NSE and BSE, and are available at all bank branches, select post offices, NSE, BSE and Stock Holding Corporation of India Ltd.