Sovereign Gold Bond 2023-24 Series IV Opens Today: 5 Day Window To Buy Gold At Low Prices

New Delhi: The Sovereign Gold Bond Scheme  2023-24 - Series IV will be open for subscription from today (Monday, February 12).

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 IV will begin on February 12 and will remain open till February 16, 2024.  RBI has announced that the installment of SGB 2023-24 - Series IV has been fixed at Rs 6,263 per gram.

Sovereign Gold Bond 2023-24 Series IV Issue Price

"The nominal value of the bond based on the simple average of 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. February 07, February 08 and February 09, 2024 works out to ₹6,263/- (Rupees Six thousand two hundred and sixty three only) per gram of gold," RBI has said in a release.

Sovereign Gold Bond 2023-24 Series IV: Discount for Online and Digital Investors

Government of India, in consultation with the Reserve Bank, has decided to offer a discount of ₹50/- per gram less than the nominal value to those investors applying online and making the payment against the application through digital mode. For such investors, the issue price of Gold Bond will be ₹6,213/- (Rupees Six thousand two hundred and thirteen only) per gram of gold.

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.