Gold Silver Reports — India’s sovereign gold bonds debuted in two of the major stock exchanges in the country today. The gold bonds have been listed in BSE and NSE for trading at 11.5% premium to issued price.
The first tranche of the bonds were issued at Rs 2682 today, and the first trade took place for 4 grams at Rs 2986, which is a nearly 11.5% premium, including interest. Annual interest is 2.75%.
The Narendra Modi government has so far issued three tranches of the sovereign gold bonds scheme. The primary objective of the scheme is to control the import of gold and give investors an option to earn returns from gold. — Neal Bhai Reports