Sovereign Gold Bond Scheme Opens Today: 5 Day Window To Buy Gold At Low Prices, Check Issue Price, Special Discounts

New Delhi: The Sovereign Gold Bond Scheme 2023-24 Tranche 2 will be open for subscription from today (Monday, September 11).

This is a great opportunity for investors to invest in gold, a safe and secure asset backed by the Central Government. The subscription for the Sovereign Gold Bond (SGB) Scheme 2023-24 Series II will begin on September 11 and will remain open till September 15, 2023.  RBI announced on Friday that the next installment of SGB has been fixed at Rs 5,923 per gram.

Selling starting from Sep 11

RBI (Reserve Bank of India) has announced that the sale of this gold bond will commence on September 11th. This will be the second tranche of SGB (Sovereign Gold Bond) for the current financial year. According to RBI, the price of SGB is fixed at Rs 5,923 per gram based on the simple average of closing price of gold of 999 purity.

Discount for Online and Digital Investors

After discussions with RBI, the government has decided to give a discount of Rs 50 per gram on the issue price to investors applying online and making the payment through digital mode. According to the statement, the issue price for such investors is Rs 5,873 per gram of gold. The issue will remain open from September 11th to September 15th.

Where Can You Buy Gold?

The sale of the bond will be made through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognized stock exchanges BSE and NSE.

What is Sovereign Gold Bond Scheme?

Sovereign Gold Bond Scheme are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The Bond is issued by Reserve Bank on behalf of Government of India.

How will the Sovereign Gold Bond Scheme be sold?

The bonds will be sold through scheduled commercial banks (except Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited.

Who can buy Sovereign Gold Bond Scheme?

The Bonds will be restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions.