Gold bond sales gain momentum in India's second wave of Covid-19 infections

Lockdowns to contain the disease have eased, but still many customers are putting their money on such instruments.

Compared to the first wave of Covid-19, the sale of gold bonds during the second wave, with less stringent lockdowns, has been high, indicating the rising popularity of the instrument.

In the first wave, the lockdown was nationwide and strict. As a result, jewellery shops and even e-commerce sites were not open for gold sales. Both gold exchange-traded funds (ETFs) and sovereign gold bonds (SGBs) were among the options for buyers.

Now even as lockdowns are fewer and physical gold buying is an option, sales of SGBs in April-July 2021 were 12 tonnes, despite the July month Series bond sales being a