What is the Gold Monetization Scheme

As 24 Carat Financial Services is known to extends highly reliable MCX trading tips, it has also earned its name by providing a robust data or knowledge base to its customers. The Gold Monetization Scheme (GMS) is a scheme that allows eligible resident investors including individuals, HUFs, Trusts and companies to monetize the gold held by them into interest earning deposits with all Scheduled Commercial Banks, excluding RRBs. The gold can be in the form of coins, bars and jewelry. The gold deposited under the scheme should be assayed by the Central Purity Testing Centre (CPTC) and converted in tradable gold bars of 995 purity after refining.  The minimum gold that can be deposited under the scheme is 30gms and there is no maximum limit. The gold can be converted into Short term bank deposits (1-3 years) which will earn interest at the rate fixed by the respective bank. The interest will be credited periodically to the account and can be either withdrawn or allowed to accumulate till maturity. On completion of the term of deposit, the prevailing value of the deposited gold and accumulated interest, if any, will be repaid either in rupees or gold as chosen by the depositor at the time of making the deposit. Medium Term Bank Deposit (5-7 years) and Long Term Bank Deposit (12-15 years) will be accepted by the designated bank on behalf of the Central Government, unlike the short term deposit which is the liability of the bank accepting it. The interest applicable currently on the medium term deposit is 2.25% and long term deposit is 2.5%. Pre-mature redemption, either partially or fully, may be allowed by the designated bank subject to any lock-in period and penalties imposed by the bank. The redemption will be made only in rupees at the prevailing value of gold at the time of redemption.

Not only the commodity market but 24 Carat also extends accurate option tips in the stock market.

Do stop loss actually reducing risk of the share market traders?

A stop-loss is a type of advanced trade order that can be placed with most brokerages. The order specifies that an investor wants to execute a trade for a given stock, but only if a specified price level is reached during trading. This differs from a conventional market order, in which the investor simply specifies that he or she wishes to trade a given number of shares of a stock at the current market-clearing price.

A stop-loss order is essentially an automatic trade order given by an investor to his or her brokerage – only be executed once the price of the stock in question falls to the specified stop price stated in the investor's stop-loss order. Such orders are designed to limit an investor’s loss on a position in a security.Share market tips providers also suggest trading with appropriate stop loss.



For example, let's say you are long 10 shares of XYZ Firm.When you bought for Rs 315.00 per share. The shares are now trading at Rs 340.00 per share. You want to continue holding the stock so you can participate in any future price appreciation it may see. However, you also don't want to lose all of the unrealized gains you have built up so far with the stock, and you would want to sell out of your position if shares fell to Rs 325.50.

Rather than watching the market five days a week to make sure the shares are sold if price drops, you can simply enter a stop-loss to essentially monitor the price for you. Based on the earlier example, you could input a stop-loss to your brokerage to sell 10 shares if the price falls to Rs 325.50. Stop Loss is one of the best ways to reduce the risk ratio as per the Intraday calls for today.

Various activities facilitated in the stock market

The activities in the financial markets are facilitated by the market participants such as banks, financial institutions, brokers and dealers, custodians, depositories and depository participants, among others. Institutions such as mutual funds, insurance companies and pension funds are large and informed investors who provide funds in the markets and provide liquidity and stability. They also play an important role in the proper pricing of financial assets since they can source and evaluate information better. Banks and financial institutions aid the actual transfer of funds between the participants and may also be present in the markets to source funds for their activities or as investors of funds. Fund managers and financial advisors provide the service of advising and managing funds for investors so that their savings are invested in a way that suits their requirements the best. These ensure the delivery of best services via providing the share market tips daily.

Apart from the financial markets, the economic activities are supported by the development of other markets such as the commodities markets and foreign exchange markets that protect producers, consumers and businesses against adverse price movements. The research hubs also extend MCX free tips to the traders who trade in the Indian commodity market. Similarly, a well-developed insurance and pension markets protect the personal financial situation of households apart from playing an important role as an institutional investor in the financial markets.

The Senior Citizens’ Saving Scheme

The Senior Citizens’ Saving Scheme is a savings product available to only senior citizens of age 60 years or above on the date of opening the account. Proof of age and a photograph of account holder are required. The age limit is reduced to 55 years in case of an individual retiring on superannuation or otherwise, or under VRS or special VRS, provided the account is opened within one month of date of receipt of retirement benefits.

The retired personnel of Defence Services, excluding Civilian Defence Employees, shall be eligible irrespective of age limit. The account can be opened at any post office undertaking savings bank work and a branch of a bank authorized to do so. The scheme can be held in individual capacity or jointly with the spouse. The age restrictions apply only to the first holder. NRIs, PIOs and HUF are not eligible to invest in this scheme and neither can they take intraday tips for the same.

The term for the scheme is 5 years. A one-time extension of three years is allowed, if applied within one year of its maturity. Maximum limit of investment is Rs.15 lakhs. However, in case of retirees before the age of 60 years the limit is restricted to retirement benefits or Rs.15 Lakhs, whichever is less. An investor can open more than one account subject to the condition, that amount in all accounts taken together does not at any point of time exceed Rs.15 Lakhs.  The deposit can be made in cash if the amount is less than Rs. 1 lakh, or cheques or demand draft.

To know more about the beneficiary schemes laid down by the government of India, avail the MCX commodity tips at 24 Carat Financial Services.