Record-breaking sales of gold bonds in May, the price could rise to Rs 54,000

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New Delhi, Monday 25 May 2020

The government sold 25 lakh units of gold bonds in May, earning Rs 1,168 crore, according to data released by the Reserve Bank of India, which is the largest gain by sovereign gold bonds.

The gold bonds were opened for subscription between May 11 and 15 at a price of Rs 4,590 per unit, one gram of gold bonds per gram.

So far, 39 subscriptions of gold bonds have been issued, with the highest earnings from gold bonds in October 2016 before May.

In October 2016, a total of Rs 1,082 crore was subscribed, with a total of 35.98 lakh units sold. In April 2020, investors bought 17.73 lakh units with a total value of Rs 822 crore.

However, in any financial crisis or at a time when the market is in turmoil, investing in gold is considered to be the best option, as the risk is low and the returns are good.

Gold has seen a 40 per cent return in the last one year, according to a report by the World Gold Council.

If we talk about the price of gold, once again it has gone up to Rs 47,000 per 10 grams, its outlook is also positive in the near future, some experts are hoping that it can reach Rs 47,000 per 10 grams in the next 12 months.

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