Amidst the ups and downs of the stock market, investing in gold has emerged as a lucrative deal. The government gives people an opportunity to make a safe investment in gold through gold bonds. For this, the government issues gold bonds from time to time. Recently, investors have done shopping of 4600 crores with the gold bonds of June. People are moving forward in large numbers to invest in Gold Bonds. In June, investors have invested heavily in gold.
Let us tell you that in June, people bought 7.77 tonnes of sovereign gold bonds worth Rs 4,604 crore. The government withdraws some part of gold every year through Sovereign Gold Bonds. Which comes with a lock-in period of 5 years.
SGB reached record high at this time
Last month's purchase was at 5,926 per gram, which is the highest price since the launch of SGB. This is an increase of about 10% from December 2022. At that time its price was Rs 5,409 per gram. 3% GST is levied on this gold.
On the other hand, the stock market benchmark index Nifty gave 6% return during June at 19,189.5 points. Gold had outperformed equities in 2022 as well, becoming the top financial asset with 13% returns from issue price of ₹4,791 per gram in December 2021 to ₹5,409 in December 2022. In comparison, Nifty gave 4.3% return.
Why investing in gold bonds is a profitable deal
Buying gold bonds is also beneficial because there is no risk in it, there is no need to keep it under lock, there is no fear of theft. There is no scope for adulteration in gold as it is in digital form. Gets a fixed interest. Every year the price of your gold increases.
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