Sovereign Gold Bonds (2023-24 Series IV) will open for subscription for five trading days, from February 12 to February 16. The price for the issue will be declared by Reserve Bank of India (RBI) soon.
The
price will be fixed in Indian rupees on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Ltd (IBJA) for the last three working days of the week preceding the subscription period.
For those opting to subscribe online and make payments through digital means, a bonus awaits – the issue price will be reduced by ₹50 per gram.
The price history of SGB for FY 2023-24 is as follows:
Series | Month | Price per gram |
Series 1 | June 2023 | ₹5,926 |
Series 2 | September 2023 | ₹5,923 |
Series 3 | December 2023 | ₹6,199 |
The SGBs, categorised as Government of India Stock under the Government Securities Act, 2006, offer investors an unique avenue for gold investment.
Upon subscription, investors will be furnished with a Certificate of Holding, and these bonds can be converted into demat form.
To facilitate accessibility, SGBs will be available through scheduled commercial banks (excluding small finance banks, payment banks, and regional rural banks), Stock Holding Corporation of India (SHCIL), Clearing Corporation of India (CCIL), designated post offices, National Stock Exchange of India, and Bombay Stock Exchange.
Steps to acquire SGBs online:
Step 1: Log in to the net banking account.
Step 3: First-time investors must register, review the Reserve Bank of India's terms and conditions, and proceed. Enter the necessary details for the SGB scheme and the depository participant from NSDL or CDSL, which hosts the demat account.
Step 4: Submit the registration form.
Step 5: After registration, click on the 'Purchase' option in the header tab.
Step 6: Input the subscription quantity and nominee details.
Step 7: Enter the one-time password (OTP) sent to the mobile phone to complete the process.
It's worth noting that SGBs can also be acquired from the secondary market beyond the subscription window. Investors can explore primary issuances by stock exchanges or the RBI for continued investment opportunities in these gold-backed securities.
