Business

Modi government sells cheap gold, tomorrow's opportunity to buy

While presenting the general budget on July 5, Finance Minister Nirmala Sitharaman announced to increase the import duty on gold from 10 per cent to 12.5 per cent. After that, prices of gold have increased. However, the Modi government is giving you an opportunity to buy cheap gold. Let's know what is the whole matter ..Actually, you can buy cheap gold under the Modi government's Sovereign Gold Bond scheme. This digital mode scheme was started in 2015. Under the scheme of this scheme, people are given the opportunity to buy cheap gold from time to time. In this series, the price of gold is fixed by the Reserve Bank of India.

The new series of Sovereign Gold Bond scheme, which started from July 8, will last till July 12. Here, according to July 10, the market price of gold is 3,487 rupees per gram. Under the scheme, you can buy gold at Rs 3,443 per ten grams.With this, the buyer will get a discount of 50 rupees per gram for payment in digital mode. Thus, for consumers who have invested online in Sovereign Gold Bond, the price of one grams of gold will be Rs 3,393. That is, you can buy gold at market price of less than 94 rupees.

If you talk about the benefits of the scheme, you can save tax by buying gold. Apart from this, loan can also be taken from the bank through the scheme. Not only that, there is no need to worry about gold safety.

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