look news india
New Delhi: Currently no series of Sovereign Gold Bonds are available for subscription. However, there is a huge demand for Sovereign Gold Bonds in the market. According to the latest data from NSE, all 64 gold bonds are currently trading at a premium to the market price of gold at Rs 7,256 per 1 gram.
Gold prices released by IBJA are the basis for determining the issue and redemption price of gold bonds. The fourth and final series of sovereign gold bonds (67th gold bond) for the last financial year was issued to subscribers on February 21. This bond is also unlikely to be available before August 2024. Those who have a demat account can buy these bonds in the secondary market
As per the rules, the issue price of Sovereign Gold Bond is the average of the closing price of 24 carat gold (999) received from IBJA for the 3 business days immediately preceding the subscription period. While the final redemption price for the initial 9 series will be the average of the closing price of gold (999) received from IBJA for the week (Monday-Friday) immediately preceding the maturity date of the issue. While for subsequent series it will be the average of the closing price of gold (999) received from IBJA for the 3 working days immediately preceding the maturity date.
According to experts, no series of sovereign gold bonds has been launched since February. It is not expected to be launched before August. While the price of gold is likely to rise further. Therefore, demat account holders are interested in buying gold bonds in the secondary market even at a premium.