Hi Srikanth!
Greetings! I have one more basic question for you! please help me understand this.
I have opened a DEMAT account with AXIS bank. I bought 40 units(grams) of GOLD in Soveriegn gold bonds series 3 ,tranche 6 in October- November 2016. The amount i invested was 1,18,000 @ 2957 per gram.
The gold price today when i checked is 3000 per gram. So at this rate my bond value should be 120000. However my DMAT account statement shows the value at 1,10,000 only. what is the reason? whom should i contact for further details regarding this--my bank which is offering me the DMAT account or NSDL or CDSL or who else?
3 Answers
Hi,
I guess the current bond price can be the average price of last week's Gold prices and not the LIVE price.
You may kindly check about this with your Demat account provider.
In case, you get the required information from them, kindly do share it here, can be useful to all of us.
Hi,
Thanks for the reply Srikanth!
Sorry for the delayed feed back ,however this is the time taken by my bank and Dmat provider(both being Axis bank to give me some feed back for my query regrading my Soveriegn gold bonds value.
After all the multiple loops and trails of mails to Axis bank, DP operations, Axis securities , the reply i got was to check with "The RBI "for the value of my Gold bonds held with Axis bank!
. In the mean time i got my consolidated statement of Account from NSDL which was showing the near true value of the Gold bonds. So i am leaving the matter at that as i got what i am looking for.
Perhaps it would not be unwise for me to rematerialize my gold bonds- i am thinking.
The take home message i learned and can give from my experience is - Axis bank service is pathetic. Avoid Axis bank and Axis securities for DMAT account.
(P.S: However i am gaining lot of experience and wisdom from these exercises :) :))
Please login or Register to submit your answer