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The Sovereign Gold Bond (SGB) scheme was introduced to steer Indian investors away from physical gold purchases and reduce the country's gold import bill. However, the government’s failure to hedge against rising gold prices has resulted in mounting liabilities, turning the SGB scheme into an expensive financial misstep.
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Despite an allocation of Rs 18,500 crore for SGBs in the FY25 Budget – down from Rs 26,852 crore in the interim Budget – no new tranches of SGBs have been issued in the current fiscal.
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Investors who participated in the SGB scheme 2016-17 -series 1, issued in August 2016, are nearing their final redemption, which is set for the first week of August 2024.
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Next tranche of Sovereign Gold Bond opens Monday for five days, priced at Rs 6,263 per gram, according to Reserve Bank.
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Investors are gradually warming to non-physical forms of gold such as ETFs and SGBs
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The issue price of the gold bond for online investors will be Rs 5,873 per gram of gold, according to RBI's announcement
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FY24’s first SGB issue raised Rs 4604 crore, indicating how popular this instrument has become among investors seeking diversification
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Sovereign Gold Bond can be a good option for those looking to invest in the precious metal through a financial vehicle for the long term. For investors keen to hold on till maturity, the gains, if any, are tax-free.
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In a tweet on March 8, Kirtan Shah, founder of Credence Wealth Advisors, answered a few key questions. Two of them are - should you buy an SGB and if yes, should you buy the new tranche or an older tranche?
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The bond is being issued at a price of Rs 5,197 per gm of gold. There is a discount of Rs 50 per gm, less the discovered price, if you pay using digital means
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The bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges -- NSE and BSE.
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Traditionally, investors looked at gold as an effective hedge against volatility in the stock market. Over the last few years, increasing digitisation also ensured that more investors get to invest in a convenient manner.
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A fresh tranche of sovereign gold bonds is open for subscription now. But you could also possibly buy SGBs from the exchanges at better prices and with good liquidity
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The SGB will be open for subscription for 5 days from 25 to October 29, 2021 and the certificate of bond(s) will be issued on November 02, 2021. The government has fixed the price at Rs 4,765 per gram of gold.
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To streamline the customer complaint handling process and make it more effective, the RBI said the nodal officer of the Receiving Office (RO) will be the first point of contact for attending to the queries/ complaints of their customers.
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The SGB will be open for 5 days from August 30 to September 3, 2021 at Rs 4,732 per bond and the certificate of bond(s) will be issued on September 7. A discount of Rs 50 is also on offer, if using a digital payment mode.
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Earlier, the government had announced to issue the Sovereign Gold Bond (SGB) in six tranches from May 2021 to September 2021. The RBI will issue the bonds on behalf of the Government of India.
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The subscription period for 2021-22 Series I will be May 17-21, and bonds will be issued on May 25.
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Sovereign Gold Bonds 2020-21 (Series XII) will be open for subscription from March 1 to 5, 2021.
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The sovereign gold bond (SGB) scheme Series X offers gold at a price of Rs 5,054 per gram for investors using digital modes to pay. But is this the right time to buy gold?
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The RBI issued 10 tranches of sovereign gold bonds for an aggregate amount of Rs 2,316.37 crore (6.13 tonnes) during 2019-20.
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The bonds are denominated in multiples of gram(s) of gold with a basic unit of 1 gram and the tenor of the SGB will be eight years with exit option after the fifth year to be exercised on the interest payment dates.
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SGBs are government securities, denominated in grams of gold, and are substitutes for holding physical gold.
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The central bank in April had announced that the government will issue Sovereign Gold Bonds (SGBs) in six tranches beginning April 20 till September.
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The central bank in April had announced that the government will issue Sovereign Gold Bonds in six tranches from April 20 till September.
