New Delhi: If you are looking to buy gold, the Modi government is giving you a great opportunity. In fact, through a government scheme, you can buy gold at cheaper prices than the market price. However, you can avail this opportunity only till August 9. In fact, the Modi government's Sovereign Gold Bond scheme will continue from August 5 to August 9. Under this scheme, you can buy gold at a price of Rs 3,499 per gram.
On the other hand, the market rate for gold is Rs 3,674 per gram as of August 3. That is to say, if you buy gold under the government scheme, it will be Rs 175 per gram cheaper. With this, the buyer will get an additional concession of Rs 50 per gram on payment in digital mode. In this case, online applications or paying customers will be able to purchase gold at Rs 3,449 per gram.
Gold purchased under the Sovereign Gold Bond scheme is not kept in the house but is used as an investment in bonds. The prices of bond based gold are fixed by the Reserve Bank of India (RBI). However, anyone can purchase a maximum of 500 grams of gold bonds in a financial year. The minimum investment in this bond is one gram. You can save income tax by buying gold under the scheme. In addition, a loan can also be availed from the bank on this gold.
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