New Delhi: The highly anticipated Sovereign Gold Bond Scheme 2023-23 brings an opportunity for savvy investors to acquire gold below current market rates.
The government has recently disclosed the issue prices, valid for limited time, with bonds set to be issued by December 28, 2023.
Government’s Price Revelation
In a bid to make gold more accessible, the government has unveiled the issue prices for the Sovereign Gold Bond Scheme Series.
Notably, the fixed rate stands at Rs 6,199 per gram, slightly below the current market rate of approximately Rs 6,200 per gram.
Deciphering the Issue Price
The determination of the issue price for gold involves averaging the prices from the last three days preceding subscription,
coupled with the convenience of a Rs 50 discount per 10 grams for online transactions.
Understanding the Sovereign Gold Bond Scheme
The Sovereign Gold Bond Scheme, administered by the Reserve Bank of India, presents a unique opportunity for investors to secure gold at rates lower than the prevailing market prices.
As a government-run initiative, it guarantees the safety of invested funds, making it a trusted avenue for gold enthusiasts.
Investment Guidelines
Investors keen on participating in the Sovereign Gold Bond Scheme must adhere to guidelines set by the Reserve Bank of India.
The minimum investment is pegged at one gram of gold, while individuals, Hindu Undivided Families (HUFs), and trusts can invest up to 4 kg, 4 kg, and 20 kg, respectively.
Convenient Purchase Options
The Sovereign Gold Bond Scheme is available for purchase through various channels, including all major banks, Stock Holding Corporation of India Limited (SHCIL),
Clearing Corporation of India Limited (CCIL), National Stock Exchange of India Limited, and Bombay Stock Exchange Limited.
Interest and Maturity Terms
Investors opting for the Sovereign Gold Bond Scheme can enjoy a total maturity period of 8 years, with the option to exit after the 5th year.
The scheme offers a lucrative 2.50 percent interest to investors, marking a compelling investment opportunity since its inception in 2015.
