Govt posts third-highest mop-up ever in gold bond sales this April

Physical sales were very limited due to the lockdown and sovereign gold bonds were one of the few avenues available to invest in the precios metal

The government sold sovereign gold bonds worth Rs 822 crore, during an issue that ended days before Akshaya Tritiya (26 April). The amount of bonds sold was the third-highest ever during a gold bond sale, and the highest since September 2016.

Even the quantity of underlying gold pertaining to the bonds sold in April, at 1.77 tonnes, was the highest since July 2017, according to official data regarding the sale of sovereign gold bonds.

There is a particular significance of this April bond issue, given that it was a major avenue to purchase gold on Akshaya Tritiya, during the lockdown.

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