look news india
New Delhi: Currently no series of sovereign gold bonds are available for subscription. But those who have a demat account can buy sovereign gold bonds in the secondary market. But at the moment these sovereign gold bonds are available at a premium. However, in March and April these bonds were available at a discount in the secondary market. Most gold bonds are currently trading at a premium i.e. above the market price.
The fourth and final series of Sovereign Gold Bond (67th Gold Bond) for the last financial year was issued on 21 February. This bond is also unlikely to be available before June 2024. Because the government had given an opportunity to buy the first series of FY 2023-34 between June 19 and June 23 in 2023. Earlier in 2022 also, customers could buy the first series for the financial year 2022-23 between June 20 and 24.
According to the latest data from NSE, currently a total of 64 gold bonds are available for trading, out of which 62 gold bonds are trading at a premium. That is, they are Rs. 7,216 more than the market price. While there is a slight discount on both gold bonds.
The price of benchmark 24 carat gold (999) was recorded at Rs 7,216 per 10 grams in early trade today, Monday 27 May 2024. The gold prices released by IBJA are the basis for determining the issue and redemption price of gold bonds.
The highest premium is being seen on the 17th Gold Bond (SGBDEC25) of the financial year 2017-18, i.e., the 10th series (2017-18 Series X).
It is currently trading at Rs. 7,216 against the market price of Rs. 7,680 per unit. Thus, these bonds are available at a premium of over 6 per cent in the secondary market. This bond will mature on December 4, 2025. It was earlier issued on December 4, 2017 at a price of Rs. 2,961 per unit.
