After adding to its gold reserves for 18 consecutive months, official data from the People's Bank of China (PBOC) showed its holdings were unchanged in May
The bonds can be bought through agents or receiving officers (ROs), and applications must be submitted to branches during the weeks of subscription
Sovereign Gold Bond interest rate: These bonds bear interest at the rate of 2.50% per annum on the amount of initial investment. Interest is credited semi-annually to the bank account of the investor
The government has fixed the issue price at Rs 5,926 per gram of gold for the first tranche of the Sovereign Gold Bond Scheme 2023-24, which will open for subscription for five days from Monday. The issue will be opened for subscription during the period June 19-23, 2023, with the settlement date of June 27, 2023, the finance ministry said in a statement on Friday. The issue price of the bond during the subscription period would be Rs 5,926, it said. The government in consultation with the Reserve Bank of India has decided to allow a discount of Rs 50 per gram from the issue price to those investors who apply online and the payment is made through digital mode, it said. For such investors the issue price of Gold Bond will be Rs 5,876 per gram of gold, it added. The bonds will be sold through banks Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognised stock exchanges -- National Stock Exchange of India Limited and Bombay Stock Exchange Limited.
The Sovereign Gold Bond scheme flares today, allowing you to buy gold bonds at a fixed interest of 2.5-percent twice a year. Read this article to know everything about gold bonds
With gold prices on a decline, thanks to a rise in bond yields - globally and in India - analysts say investing in the yellow metal and the SGB scheme makes little sense right now
Apart from capital appreciation, you can also earn an annual interest income. Note, however, that that they are not very liquid
Total collection came to 14.071 tonnes worth of gold, with bonds amounting to Rs 4,127 crore, says government
Since last November, five tranches have been issued and a total of a little over 10 tonne equivalent was issued
The sixth tranche of the issue is expected to open on October 24
This latest bond issue will be at Rs 3,150 per gram, compared to fourth issue made at Rs 3,119
Govt is planning fourth tranche of gold bond issue under sovereign gold bond series in the first half of September
NSE sold more bonds than BSE
Reduces minimum subscription denomination to 1 gm which would be open for investments from July 18-22
Sovereign Gold Bond Scheme was announced in Oct 2015; first tranche will now be available for trading
Listing of bonds will give them much required liquidity