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Tuesday, January 31, 2023

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GOLD: Home-made gold goods, 2.50% interest, new RBI rules

What is RBI’s new scheme?

Mumbai: If you are also keeping gold at home, this news is very important for you. Gold kept at home will earn you interest. This gold kept in a cupboard or locker at home will give you an opportunity to earn. This will also keep your gold jewelry safe and make you money. (Gold Interest Bank offer 2.50 percent interest on Gold at Your Home Know About Gold Monetisation)

Gold-made goods kept at home
Gold is always seen as a safe investment. Gold is looked at from the point of view of how it works in difficult situations. The new RBI rules will give you a golden opportunity to earn from the gold you keep at home. The RBI’s Gold Monetization Scheme will provide interest on gold like FDs. This scheme will give you interest on gold and gold value as a fixed deposit.

Where can you get this scheme?
If you want to avail the benefits of this scheme, you can avail the Gold Monetization Scheme at several government banks including HDFC Bank, Canara Bank, Bank of India, Punjab National Bank. Through this scheme one can get interest on gold jewelery. The bank will offer 2.50% interest on long-term deposits to customers. The medium term deposit will earn 2.25% interest. I mean, gold kept at home is going to make you rich.

What is Gold Monetization Scheme?
As for the RBI’s gold monetization scheme, it is a fixed deposit. In which you can FD gold. The scheme will provide interest as per the price of gold and maturity. Anyone living in India can invest in this scheme. You can also open this Gold FD in single or joint format. The scheme can also deposit at least 10 grams of raw gold. You can invest in FDs for 1 to 15 years.

The current price of gold
There has been a big change in the price of gold. In the bullion market, gold is now trading at Rs 47,484 per 10 grams. Silver also rose by Rs 1,090 to Rs 63,977 per 10 kg. Gold prices rose on Tuesday. Gold prices have reached a four-month low.

The price of gold has become so cheap
The all time high value compared to the price of gold has led to a big drop in the price of gold. Gold fell to a high of Rs 8,870. August 7, 2020 Gold prices hit an all-time high. The price of gold is Rs 56,254 per 10 grams. It has become cheaper by Rs 8770 compared to gold. Silver also touched Rs 13,121 per kg and Rs 63,977 per kg.

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