November 28, 2015 2 Comments
The first I heard of the Sovereign Gold Bonds was on Dhanteras day when my bank tried to get me to purchase some of them.At the time , I was on my way out shopping and my first thought was: Do I really want to postpone my gold purchases for a year to earn an additional 275 rupees per Rs10,000/-?Yaar, I could haggle with the jeweller and easily get that much and more off my purchases. And then, I love wearing jewellery.Do I want to give up on that pleasure and experience, multiple times a year, for as little as 275 rupees? That too in the days when one simple restaurant meal, or a taxi ride might cost that much and more? The answer then was an easy “NO”.
Later, I was to learn worse about these bonds. They are priced higher than the price of physical gold on the street. So there goes any notional interest a person might have earned! Read more of this post