Trade in gold bonds from month end

The government has decided to allow trading in sovereign gold bonds by the end of May. This means their listing on stock exchanges is on the cards.

The decision was taken at a review meeting of gold related schemes in the finance ministry, chaired by Revenue Secretary Shaktikanta Das.

Listing of bonds will give them much required liquidity.

Besides, it was decided that the fourth tranche of the sovereign gold bond scheme would be launched soon, an official statement said here.

As much as 2,891 kg of gold has been collected under short-term bank deposit and medium and long-term government deposit schemes. The amount collected was much less than gold bonds.

At the meeting, banks were directed to adopt a practical approach while asking for guarantees or collateral from the collection and purity verification centres. It was decided that Indian Bankers' Association in association with World Gold Council will design an exhaustive media campaign to push the scheme.