Lenders check the purity of the gold. Then, the market value of your gold ornaments is calculated according to the market rate of gold on the day of the loan application. You can take up to 90 per cent of the value of the pledged gold. If you pledge gold ornaments, only gold portions are used for calculating the value; other metals, stones and gems are excluded from the calculations by the lender. … [Read more...] about What are the charges for gold loans, how is the value of ornaments calculated, which lenders are the best and other key questions answered
Former gold coin
Sovereign gold bonds (SGB): SGB is issued by the RBI in tranches through scheduled commercial banks, recognised stock exchanges, designated post offices, etc. The minimum and maximum investment allowed to each individual investor per financial year is 1 gram and 4 kg, respectively. In addition to the potential of capital appreciation, SGB investors also benefit in the form of interest of 2.50 per cent annually payable in half yearly rests. While the interest income is taxable as per the tax slab of the investor, any capital gains resulting from the redemption of SGB is tax-exempt. Indexation benefits are applicable on long term capital gains arising out of transfer of bonds to other individuals. Another major advantage of SGB is the ability to use it as a collateral for availing bank loans. … [Read more...] about What’s the best way to invest in gold now?
Gold steadied near a one-week high on Thursday as the dollar weakened, but the yellow metal traded in a narrow $8 range as investors held back from making large bets ahead of the European Central Bank's monetary policy decision due later in the day. … [Read more...] about Gold at one-week high as weak dollar supports; ECB meet in focus
The dollar jumped to a near one-month high, as the pound dropped to a six-week low on renewed worries about Brexit and as risk appetite waned. A stronger greenback makes gold more expensive for holders of other currencies. … [Read more...] about Gold flat as dollar strength counters safe-haven demand
Also, the current rally in gold prices globally could be an advantage for households to get the maximum amount through a gold mortgage. Gold prices shot up 40 percent this year so far due to ample liquidity pouring in by central banks, geopolitical tensions, US-China trade tensions and fear of the second wave of COVID infections. … [Read more...] about Increase in LTV ratio negative for gold loan financing firms, but good for banks: Experts