The latest Sovereign Gold Bond Series I 2023-24, was open for subscription from June 19 to June 23. The Reserve Bank of India (RBI) has scheduled June 27, 2023, as the settlement date for this tranche of the Sovereign Gold Bonds.
Investors looking to diversify their portfolios may want to examine the first tranche of this fiscal year’s Sovereign Gold Bond (SGB) Scheme 2023-24, which is open for subscription from June 19 and will conclude on June 23.
The SGB Series I 2023-24 issue price is Rs 5,926 per gram of gold, which is Rs 315 higher than the preceding tranche’s issue price of Rs 5,611 per gram, which was released in March 2023. These bonds are issued by the Reserve Bank of India on behalf of the government. You can buy these Gold bonds both online and offline.
A discount of Rs 50 per gram is decided to grant investors who apply online under the Government’s Sovereign Gold Bond Scheme. The investors must pay these amounts online. The issue price of gold bonds for online purchase will be Rs 5,876 per gram.
When the SBG was first introduced in November 2015, the issue price of these bonds was Rs 2,684 per gram of gold. In almost eight years, the prices of these gold bonds have increased by 120% in the issue price.
The value of SBGs has increased 11% in the last three years. In July and August 2020, the issue price of these Sovereign Gold Bonds stood at Rs 5,334 for Series 5 2020-21. However, by 2021, the issue price had dropped below Rs 5,000. The prices gradually increased in 2022 along with gold rates, ranging from Rs 5,091 to Rs 5,409.