Team-BHP - The Gold Investment Thread

Quote:

Originally Posted by kshastry (Post 5104655)

A quick question on MMCT PAMP gold purchase. There are various platforms through which gold can be bought in any denomination. However I could not spot a "SIP" equivalent option where one can keep buying a gold for a fixed sum at a set frequency. Am I missing anything? If anyone knows please guide.

You can look at gold etf. https://www.moneycontrol.com/stocks/...l?classic=true

Quote:

Originally Posted by DigitalOne (Post 5098036)

You are right. I had outdated information I posted from memory. Looks like they have tiered pricing for demat services (Link ).

Please note that the charges for demat services are charged by ICICI Bank and not ICICIDirect (please check the bill that you received; it would have come from ICICI Bank). Also SGBs would be considered as debt securities.

Yes I received the bill from ICICI bank. Thanks for the link, and it clearly shows I have been wrongly charged. I tried reaching customer care multiple times but to no avail. They first try to tell me I have no idea on bills and on sharing this document they agree its a mistake and simply disconnect the call. Any idea who to approach for some concrete steps?

ICICI customer care is probably the worst I have seen. Even for a simple name correction in my insurance it took 4-5 months and 100s of heated calls :Frustrati

Quote:

Originally Posted by SmartCat (Post 5119254)

Hearing about this after a long time:

Attachment 2189614

From SBI website:
https://sbi.co.in/web/personal-banki...t-scheme-r-gds

Hearing for the first time. How good is this? Can someone who has already invested in this throw some light for better clarity. TIA

Quote:

Originally Posted by smrtdvl (Post 5119437)

Hearing for the first time. How good is this? Can someone who has already invested in this throw some light for better clarity. TIA

This scheme was introduced a few years ago, to reduce imports of Gold and utilize Gold held by Indians for productive use.

From what I understand: if you deposit Gold under this scheme, you will not get back the "same gold" at the end of the tenure. Meaning, if you deposit Gold jewellery, it is gone forever. At the end of the tenure, you will either get gold bars or INR at market value.

I'm not 100% sure about this myself though

Team - What is the latest call on Gold. Where are we going, indirectly we keep investing here and there. I am little scared if could stop. I may not have more now but slowing investing in last few years. With Crypto boom is gold losing its shine. Speculation is Crypto is also there to stay.

Is it just the sentiment, that once it went close 5000 and all of us have mindset to expect it to be around 5000 per gram.

Quote:

Originally Posted by FURY_44 (Post 5014544)

Experts, I have just invested in the newly released SGB from RBI for this year, the lock in period says 8 years and they also mention I will be paid interest on the purchase amount.

How does this work?, Where can I see my purchase in the Axis Bank app?, Can I sell it within 8 years?, How can I sell it?, Will the then market price be considered as selling price?

I am a complete noob, please advice.

Quote:

Originally Posted by kavensri (Post 5014792)

After reading your message, even i went ahead and invested in this scheme. Even though I am not an expert in this field, i found the information given in this link pretty useful and easy to understand.
https://m.rbi.org.in/Scripts/FAQView.aspx?Id=109

Reviving the thread

Hi both, do you know how this interest credit works for SGB? Will the interest be credited in the same account used for purchase? I understand interest is credited half yearly in July and December but I didn't received any. Have you received interest?

Quote:

Originally Posted by thanixravindran (Post 5471402)

Yes, I have been receiving the interest twice an year. And the interest is credited to the same account through which the bond was purchased. It is credited exactly on the same date, Settlement Date/Maturity Date, as per the bond details.

Quote:

Originally Posted by kavensri (Post 5471408)

Thanks for the quick response. So the interest credit date is 6 months from the date of first issuance and each 6 months thereof. I misunderstood that interest is bulk posted in July and December. I don't remember seeing any bond details but saw the units in my demat account. I will check it out.

Quote:

Originally Posted by thanixravindran (Post 5471429)

I don't remember seeing any bond details but saw the units in my demat account. I will check it out.

You did not receive a PDF file (like the one attached below) after you brought it? It will have all the details.

Quote:

Originally Posted by kavensri (Post 5471431)

You did not receive a PDF file (like the one attached below) after you brought it? It will have all the details.

Yes, I figured it out now. The email is from ekuber helpdesk. Bunch of emails with no text in body of mail, its just auto generated mail and unrecognised attachment. One of them have a PDF and I ignored them as spam. Thanks a lot for your help. I am such a bad investor who couldn't even connect ekuber as virtual gold :D

I saw this on MMTC website. How does it influence MMTC-PAMP?

https://mmtclimited.com/pages/displa...-gemsjewellery

Quote:

As per the directives of the Department of Commerce, MMTC is no longer importing Bullion and stopped further production of Gold/Silver medallions, Sanchi Silver articles and Gold/Silver jewellery

Can someone with proper knowledge help me understand whether SGBs bought in the secondary market are also eligible for tax-free redemption upon maturity, even if the holding tenure is less than eight years? For instance, let us assume I purchased SGBAPR28I(maturity April 2028) today, so my holding period would be four years. Would the potential capital gain that may arise be tax-free in this case? I consulted several experts and most of them believe that it would indeed be tax-free, but I didn't get any meaningful response from the RBI helpdesk when I contacted them, hence the ambiguity. The first lots of the SGBs issued were just recently extinguished, but I purchased the same from the direct allotment, so I was unable to corroborate it.

I bought SGB 2016-17 Series 1 (August 2016). I saw recent news articles that this particular one matures on February 8, 2024. I bought this through HDFC Bank account and I am yet to get any credit for this SGB maturity and unable to find how to get this.

This was my first SGB investment and not very clear. Any one has any details on this?