Gold Ownership Certificate will indicate that the person now owns gold of a certain grammage/value. Once the lockdown is lifted, customers can redeem their certificates against physical gold, in the form of coins or jewellery. As the Gold Rate Protection offer is also included in the certificate, customers will get the additional benefit of protection against price fluctuations. If on the day of redemption, the price of gold is lower than the rate at which it was purchased, then the new lower rate would apply.
As a part of this programme, one can purchase gold from 2 grams upwards, and the Gold Ownership Certificate will be delivered via email/WhatsApp or other customer recommended platforms. It can be later redeemed at any of the Kalyan Jewellers showrooms in India, on or before August 31, 2021.
Kalyan Jewellers India Limited trade on Thursday ended at Rs56.70 per piece down Rs1.40 or 2.41% on the BSE.