Decoding the Sovereign Gold Bond Scheme 2023-24 Series IV: Is it the Right Investment for You?

Marking its return in 2024, Sovereign Gold Bonds (SGBs) kick off the year with the launch of the first issue on February 12.

The Reserve Bank of India (RBI) has fixed the issue price at Rs 6,263 per gram of gold for the Sovereign Gold Bond Scheme 2023-24 - Series IV.

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This public issue is scheduled to close on February 16.

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SGBs applied for under the 2023-2024 Series IV will be allocated on February 21, 2024.

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SGB Scheme 2023-2024 Series III – was introduced from December 18-22, 2023.

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The previous issue - SGB Scheme 2023-2024 Series III, with an issue price set at Rs 6,199 per gram of gold.

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Sovereign Gold Bonds (SGBs) represent government securities valued in grams of gold, providing an alternative to physical gold ownership.

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The SGB issue price is determined by averaging the closing prices of 999 purity gold.

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The SGB issue price of gold reported by the India Bullion and Jewellers Association (IBJA) over the three preceding working days.

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According to RBI, the nominal value of the bond is based on this average, amounts to Rs 6,263.

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