- August 20, 2022
- Posted by: Stratford Team
- Category: Economy
News
oi-Kuntala Sarkar
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Published: Saturday, August 20, 2022, 13:43 [IST]
Indian gold market falls before the sovereign gold bond (SGB) scheme opening date, as the US Dollar index (at 108.03) is on fire globally. On August 20, the 22-carat gold rate stood at Rs. 47,800/10 grams, and 24-carat gold rate stood at around Rs. 52,150/10 grams. According to government data, the upcoming SGB series will open from August 22 – August 26, 2022, and the issue price has been fixed at Rs. 5,197/gram, tracking the last 3 days’ 24-cart gold rates in the domestic markets. SGBs are one of the most secured digital gold investment opportunities in India, with assurance from the RBI.
Indian gold rates depend on the global market trend, hence domestic investors are following the US Fed’s monetary policy and US Bond yields, to anticipate the market trend. The…
