Gold, silver were trading higher on Monday morning due to buying in precious metals from jewelers, industries, and retailers. MCX Gold futures were trading 0.45%, or Rs 132, up at Rs. 29,705/10 gram late morning hours today, while MCX Silver was up 0.76%, or Rs 299, at Rs 39,895 /1 kg in the meanwhile.
The third tranche of SGB scheme on Oct 9: Meantime, the finance ministry said in its release on Friday, that the govt will launch the third tranche of sovereign gold bond (SGB) scheme, today, October 9. The SGB bonds will be sold through banks, Stock Holding Corpn of India Ltd, nominated post offices and recognized stock exchanges in the NSE and BSE.
Minimum investment in the bonds is one gram with a maximum limit of subscription of 500 grams per individual per financial year. The highest limit of subscribed would be 4 kg for HUF and individual and 20 kg for trusts and similar entities per fiscal. The government has so far issued 9 tranches of sovereign gold bonds since its launch.
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