Tremendous boost in gold investment
The government has earned Rs 1,168 crore by selling 25 lakh units through gold bonds in May. Data released by the Reserve Bank of India shows that it is the largest ever through Sovereign Gold Bonds. This gold bond was opened between 11 to 15 May for subscription, in which the price of one unit gold was Rs 4,590. A unit of gold bond contains one gram.
822 crores were earned in April
So far 39 subscriptions of sovereign gold bonds have been issued. Its highest earnings were made in October 2016 through gold bonds before May. There was a total subscription of Rs 1,082 crore in October 2016, out of which 35.98 lakh units were sold. In April 2020, the investors bought 17.73 lakh units with a total value of Rs 822 crore.
A tremendous boom in gold investment
In fact, investing in gold is considered to be the best option in any financial crisis or during a time when market turmoil is most visible because it has low risk and good returns. In the last one year, a 40 percent return has been received on gold.
