The second series of sovereign gold bonds (SGBs) for the current fiscal (FY 2022-23) will open for subscription on August 22, 2022. The issue price will be Rs 5,197 per gram, according to a release by the Reserve Bank of India (RBI).
Sovereign gold bonds are issued by the Reserve Bank of India on behalf of the government. While this scheme is valid for a tenure of eight years, there is an option for premature redemption from the fifth year onwards. Applications open till August 26
The second series of sovereign gold bonds (SGBs) for the current fiscal (FY 2022-23) will open for subscription on August 22, 2022. The issue price will be Rs 5,197 per gram, according to a release by the Reserve Bank of India (RBI).
However, the RBI is offering a discount of Rs 50 per gram to investors who will purchase these via the online mode. The issue price for such investors will be Rs 5,147 per gram against the regular price of Rs 5,197.
The applications for gold bonds will be accepted till August 26, the statement added.
“The nominal value of the bond based on the simple average closing price (published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three working days of the week preceding the subscription period, i.e., August 17, 18, and 19, 2022, works out to ₹5,197 per gram of gold,” the RBI said in a statement.
According to experts, SGBs are a good investment option. They are efficient, profitable, and an economical mode of investment in digital gold as compared to buying physical gold. Besides earning interest, they come with the additional benefit of a sovereign guarantee.
They are also tax-efficient compared to physical gold.