The most gold bonds sold ever

17 Feb, 20242 mins read
The most gold bonds sold ever

Last week in a nutshell

Chinese bosses are vanishing! At least 11 company chairmen, mostly from debt-ridden property firms, have disappeared this year. Investors are spooked, sending share prices plummeting. While the reasons are unclear, whispers of government crackdowns fuel anxiety. 

The first ever reliance-tata venture might happen. Reliance is in talks with Walt Disney to buy Disney's 29.8% stake in Tata Play. If successful, it signifies Reliance's push into satellite TV and potential for Tata Play's growth amidst losses. Concurrently, Reliance pursues a majority stake in Disney's India entertainment operations, indicating a broader multimedia expansion strategy.

EU alleges Indian companies aided the Russian-Ukraine war. The EU has proposed sanctions on Indian & China companies with trade restrictions. The listed companies have been accused of contributing to Russia's military and technological capabilities.

SGB: Not your average gold investment

The Sovereign Gold Bond Scheme 2023-24 closed for investment on Friday, offering investors an attractive option to invest in gold with benefits of the scheme including,

  • Attractive interest rate of 2.50% p.a.
  • Tax benefits on interest income and capital gains
  • Denomination as low as Rs 1 gram

First tranche of SGBs in FY2024 broke records with 77.69 lakh units subscribed, highest ever for the scheme. This surpassed the previous record of 63.5 lakh units in FY21. Clearly, SGBs are becoming more popular as an alternative to physical gold. Read our expert’s opinion about this.

What our expert says

“Investing in sovereign gold bonds (SGBs) is a great choice for individuals seeking exposure to gold over a long-term horizon. The interest rate is taxable, however, the capital gains aren't taxed. SGB series 2016 series I yielded 13.6% in Feb 2024 after maturity. Those who want more liquidity can definitely opt for gold mutual funds”

—Smriti Tomar

CEO, Stack Wealth

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