Sovereign Gold Bonds Price History

The Sovereign Gold Bond Scheme (SGBs) was introduced as part of the Gold Monetisation Scheme in India. These issues are offered in tranches as a part of this scheme by the Reserve Bank of India (RBI). RBI notifies the details of new issuances periodically.

 

Investing in the Sovereign Gold Bond scheme eliminates any risks associated with holding physical gold. Investors of SGBs are provided with a Holding Certificate, which acts as proof of investment. Besides, these bonds are issued as stocks as a part of the Government Security Act of 2006.

 

Read on to know more about the price lists, date of issuance, price per gram, and more about the SGBs since they came into existence.

Here’s the SGB rate history from the year of introduction:

• Financial Year 2022-23

• Financial Year 2021-22

• Financial Year 2020-21

• Financial Year 2019-20

• Financial Year 2018-19

• Financial Year 2017-18

•  Financial Year 2016-17

• Financial Year 2015-16

Upon maturity, your redemption proceeds shall be almost equal to the prevailing market value of gold which was invested originally. The SGB’s selling price is decided based on the closing price of 999 gold purity of the previous three business days of the week post the repayment date. This will be considered based on that date which gets published by the Indian Bullion and Jewelers Association Ltd.

The tenor of the Sovereign Gold Bond scheme is eight years. However, you can redeem or encash the bond after the fifth year from the issuance date on the dates of your coupon payments.

• Upon Maturity

You will be notified a month prior to the date of maturity. On maturity, the SGB will be redeemed in INR depending on the selling price published by the Indian Bullion and Jewelers Association Ltd. The redemption and the interest amount are then credited to your bank account directly.

• Premature Redemption

You can approach the concerned bank or the issuing authority thirty days before the date of your coupon payment. The request, however, will only be considered if you approach the concerned bank at least a day prior to the date of your coupon payment.

Here are a few of the important aspects that you, as an investor, must know about SGBs:

 

• If you wish to hold the securities in a dematerialised form, it is imperative that you quote your PAN in the application form.

• You can avail of the nomination facility in order to invest in SGB.

• Tax Deducted at Source is not applicable to the Sovereign Gold Bond scheme. However, if you are a bond holder, it is imperative that you comply with the tax laws laid down by the Government of India.

• The interest rates levied on the Sovereign Gold Bonds is taxable according to the provisions of the Income Tax Act of 1961. Upon redemption, the tax on capital gains to an individual can be exempted.