Experts say the price of gold has fallen sharply during the year. The government has hiked the price of the seventh series of Sovereign Gold Bonds to Rs. 4,765, which is more than Rs. 412 low. Thus, if you buy 10 grams of Sovereign Gold Bond, you can get a profit of Rs 4,120.
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4120 profit on purchase of 10 grams as compared to last Dhanteras
Experts say gold has fallen sharply in a year. The government has fixed the price of the seventh series of sovereign gold bonds at Rs. 4,765, which is Rs. 412 Low price. Thus, if you buy 10 grams of Sovereign Gold Bond, you can get a profit of Rs 4,120. A discount of 50 per gram is also available on online purchases and digital payments.
Any person can buy a minimum value of 1 gram and a maximum of 4 kg of sovereign gold in a financial year. Gains after its maturity period of 8 years are tax free. If you withdraw your money after 5 years, the profit from it will be taxed at 20.80% as Long Term Capital Gain.
You can also invest in these ways
Gold ETFs: There is no investment limit. If you sell it within 36 months, you will have to pay tax on short-term capital gains and profits according to the slab. Long-term capital gains and profits are taxed at 20% if kept for 36 months or more.
Digital gold PhonePe, Paytm or can be purchased from big brands like Stock Holding Corporation, Tanishq and commercial banks. It can be purchased for a maximum of five years. After this, the coins must be exchanged or sold in bars.
A good time to invest
Buying gold in Dhanteras is considered auspicious. In the current global climate, there is good investment potential in yellow metal. Concerns over inflation in the global economy. The dollar index is also not gaining momentum and crude oil prices are constantly rising. Gold is getting support for all these reasons. -Ajay Kedia, Director, Kedia Advisory