The Reserve Bank of India (RBI) has come up with second tranche of its sovereign gold bond scheme. While most of the features remain the same as the earlier scheme, the price of bonds this time is slightly lower. The central bank has fixed the issue price at Rs 2,600 each, up from Rs 2,684 earlier.
At present, gold is trading at Rs 2,610 a gramme in the Mumbai market, cheaper by Rs 14 compared to the prices set by the banking regulator. But, investors will still benefit if they invest in gold bonds rather than physical gold. That is because when a person goes to the jeweller or bank to buy a coin or bar, they have to shell out commission and taxes.
