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The redemption amount is derived from a three-day average of 999 purity gold prices provided by the India Bullion and Jewellers Association.

RBI unveils Sovereign Gold Bond series X redemption, 112% profit

The redemption amount is derived from a three-day average of 999 purity gold prices provided by the India Bullion and Jewellers Association.

The Reserve Bank of India has unveiled the redemption price for Sovereign Gold Bond Series X of 2017-18, slated for maturity on December 4, 2023. At a profitable ₹6,265 per unit, this redemption fetches a significant gain of ₹3,304 per unit, marking a 111.58% surge over the initial issue price of ₹2,961 per unit.
The computation of the redemption price for SGB involves a straightforward average of the closing gold price of 999 purity over the preceding three business days before the redemption date, sourced from the India Bullion and Jewellers Association (IBJA). In this instance, the redemption price is calculated using the simple average of the closing gold prices for November 29, 30, and December 1, 2023. What are Sovereign Gold Bonds?
Sovereign Gold Bonds are government-issued securities offered to investors in exchange for a holding certificate. These bonds, denominated in gold, require investors to pay the issue price in cash. While the tenure of the bond spans 8 years, early encashment or redemption is permissible after the fifth year from the issuance date on coupon payment dates.
Can you prematurely withdraw SGBs? For those looking to prematurely withdraw SGBs, the process entails approaching the relevant bank/SHCIL offices/post office/agent at least thirty days before the coupon payment date. A request for early redemption can only be processed if submitted at least one day before the coupon payment date, as per the directives laid out by the RBI. The proceeds from such redemptions are credited to the investor's specified bank account provided during the bond application.
Upon maturity, these bonds are redeemed in Indian rupees, with the redemption price determined by the average of the closing price of gold of 999 purity over the prior three business days from the repayment date, as published by the India Bullion and Jewelers Association Limited. Investors receive advance notification regarding the impending maturity of the bond one month beforehand. The maturity proceeds are then credited to the registered bank account. Any changes in details, such as account numbers or email IDs, require prompt notification to the bank/SHCIL/PO for proper processing. Also Watch: <a href="https://www.editorji.com/business-news/sovereign-gold-bond-scheme-2023-24-series-1-is-now-open-key-things-you-should-know-1687273614507#google_vignette">Sovereign Gold Bond Scheme 2023-24 Series 1 is now open: Key things you should know</a>

Last month the bonds were purchased at Rs 5,926 per gm which was an increase of almost 10% from the December 2022 series. In comparison, the Nifty had returned a 6% gain in the year through June at around 19,189 points

Amid stock market breakout, sovereign gold bond sales hit record Rs 4,600 crore in June

Last month the bonds were purchased at Rs 5,926  per gm which was an increase of almost 10% from the December 2022 series. In comparison, the Nifty had returned a 6% gain in the year through June at around 19,189 points

Last month the bonds were purchased at Rs 5,926 per gm which was an increase of almost 10% from the December 2022 series. In comparison, the Nifty had returned a 6% gain in the year through June at around 19,189 points

The Sovereign Gold Bonds (SGB) sales hit a record Rs 4,604 crore in June with Indians purchasing a whooping 7.77 tonnes. Investors settle for gold as this acts as an hedge fund against inflation and a safe-haven asset at times of global uncertainty amid the stock market breakout.
Gold has been outperforming the equities market. Last month the bonds were purchased at Rs 5,926 per gramme which was the highest issue price since the introduction of SGB. This was an increase of almost 10% from the December 2022 series, which had an issue price of Rs 5,409 per gramme. In comparison, Nifty has returned a 6% gain &nbsp;in the year through June at 19,189.5 points.&nbsp;
In 2022 too gold had outperformed the market returning a 13% gain while Nifty gave a return of just 4.3% last year.&nbsp;
The RBI launched the SGB scheme on behalf of the Indian government. The scheme has seen an average subscription of 1.72 tonnes across 64 series in the seven years and seven months since its introduction as an alternative to physical gold in 2015. SGB prices also exclude the 3% goods and services tax on Gold.&nbsp;
Experts believe that the metal will generate at least 5% more from the last issue price of ₹5,926 per gramme by the end of 2023. By this, the issue price could reach at around ₹6,200 by 2023-end excluding 3% GST.

The second&nbsp;tranche of the&nbsp;Sovereign Gold Bond scheme 2021-2022 is opening today. Here is all you need to know:

Issue price of ₹4,842 per gm; a ₹50 per gm discount for those applying online
Subscription period May 24 to May 28; issuance date June 1, 2021
Minimum subscription limit at 1 gm and maximum at 4 kg
Gold bonds offer an annual interest rate of 2.50%
Total tenure of 8 years; premature redemption allowed after the fifth year
Experts recommend allocating 5 to 15% of an investment portfolio in gold

Pros: 2.5% annual return along with value appreciation
Cons: Low liquidity

Sovereign gold bonds issue opens today. All you need to know

Want to invest in the Sovereign Gold Bonds? Here is all you to need to know

Gold prices hit 4 month high

As the yellow metal surges to a 4 month high here is a digital option to invest in the safe haven. The second&nbsp;tranche of the&nbsp;Sovereign Gold Bond scheme 2021-2022 is now open, Here is all you need to know:
<ul>
<li>Issue price of ₹4,842 per gm; a ₹50 per gm discount for those applying online</li>
<li>Subscription period May 24 to May 28; issuance date June 1, 2021</li>
<li>Minimum subscription limit at 1 gm and maximum at 4 kg</li>
<li>Gold bonds offer an annual interest rate of 2.50%</li>
<li>Total tenure of 8 years; premature redemption allowed after the fifth year</li>
<li>Experts recommend allocating 5 to 15% of an investment portfolio in gold</li>
</ul>
Pros: 2.5% annual return along with value appreciation
Cons: Low liquidity

sovereign gold bond

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