Sovereign Gold Bond: You will get the opportunity to buy cheap gold after two days, know what will be the price?

Sovereign Gold Bond 2023-24 – Series II will be open for subscription from September 11-15, 2023. The price of which has been fixed at Rs 5,923. Investors who apply online and make payment through digital mode will get a discount of Rs 50 per ten grams on the nominal value.

From next week, people of the country are getting a chance to buy cheap government gold. Reserve Bank of India i.e. RBI has announced Sovereign Gold Bond September 2023. Whose price was declared Rs 5,923 per gram. The next installment of the scheme is opening for customers on 11 September 2023 i.e. Monday next week. This issue will remain open till 15 September 2023 i.e. Friday next week.

Talking about the price, date and other details of the Sovereign Gold Bond, RBI said that the Sovereign Gold Bond Scheme 2023-24 – Series II will be open for subscription during September 11-15, 2023. The price of which has been fixed at Rs 5,923. The special thing is that the Government of India, in consultation with the Reserve Bank, will get a discount of Rs 50 per ten grams from the nominal value to the investors who apply online and make payment through digital mode.

This means that the issue price of gold bonds for such investors will be Rs 5,873 per ten grams. Sovereign Gold Bond Scheme 2023-24 Series 2 will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), nominated post offices and recognized stock exchanges – NSE and BSE.

Highlights of Sovereign Gold Bond September 2023

Sovereign Gold Bond Price: RBI has fixed the issue price of Sovereign Gold Bond at Rs 5,923 per 10 grams.

Discount on Sovereign Gold Bond: RBI has announced a discount of Rs 50 per 10 grams for online applicants for the new tranche of Sovereign Gold Bond in September 2023.

Sovereign Gold Bond Date: RBI has announced that the second tranche of Sovereign Gold Bond 2023 will open for subscription on 11 September 2023 and it will remain open for bidding till 15 September 2023. This means, Sovereign Gold Bond Scheme 2023-24 Series 2 will be available from Monday to Friday next week.

How to Apply: Sovereign Gold Bond Scheme 2023-24 Series 2 will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognized stock exchanges – NSE and BSE.

Eligibility: The Sovereign Gold Bond Scheme is restricted for sale to resident individuals, HUFs, Trusts, Universities and charitable institutions.

Tenure: The tenure of the Sovereign Gold Bond Scheme will be for eight years, with the option of premature redemption after the 5th year.

Investment Limit: Minimum investment in Sovereign Gold Bond Scheme can be made in one gram of gold. However, the maximum limit is 4 kg for individual, 4 kg for HUF and 20 kg for trusts and institutions.

Redemption Price: The redemption price under the Sovereign Gold Bond Scheme will be based on the average of the closing prices of gold of 999 purity of the last three working days published by the IBJA.

Sovereign Gold Bond Interest Rate: Investors will be given interest at a fixed rate of 2.50 percent per annum on the nominal price every 6 months.

Should you apply: According to Sugandha Sachdeva, executive director and chief strategist, Acme Investment Advisors, gold prices are trading with weakness. As the wedding and festival season approaches in India, an increase in gold prices is seen.