News From Press Gold duty slashed in Budget: Does buying Sovereign Gold Bonds make sense now?

Gold duty slashed in Budget: Does buying Sovereign Gold Bonds make sense now?

“With cut in customs duty on gold, it makes no sense investing into the current Sovereign Gold Bond series unless allocation rate is taken down,” said Sandip Sabharwal, an independent market analyst.

The Economic Times Feb 2, 2021

The series-XI of the sovereign gold bond (SGB) scheme 2020-21 opened for subscription on Monday, but buying the bond issue may not be a right decision after the government proposed to slash duty on gold, said market analysts. Finance Minister Nirmala Sitharaman proposed to cut duty on gold and silver to 7.5 per cent from 12.5 per cent, meeting industry demand.

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