The first tranche of the Sovereign Gold Bond Scheme 2023-24 will be available for subscription from June 19-23, 2023, at an issue price of INR 5,926 per gram of gold. The government has decided to offer a discount of INR 50 per gram to investors who apply online and make payments through digital mode. The bonds will be sold through banks, designated post offices, and recognized stock exchanges. The scheme was launched in November 2015 to reduce demand for physical gold and increase financial savings. Bonds are denominated in multiples of grams of gold, with a basic unit of 1 gram.
The first tranche of the Sovereign Gold Bond Scheme 2023-24 will be open for subscription from June 19-23, 2023, at an issue price of Rs 5,926 per gram. The government has decided to offer a discount of Rs 50 per gram to online investors who make digital payments. The bonds will be sold through banks, designated post offices, and recognized stock exchanges. The scheme was launched in November 2015 with the goal of reducing demand for physical gold and promoting financial savings. The price of the bond is based on the average closing price of 999 purity gold for the preceding week. The bonds have a tenure of 8 years with an exit option after the 5th year. The minimum investment is 1 gram of gold, and the maximum limits apply based on the type of investor. KYC norms for the purchase of physical gold will also be applicable.
