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SGB 2023-24 series 3 scheme opens today; Issue price is Rs 6,199/gm



The new series for Sovereign Gold Bond (SGB) scheme opened for investment today, December 18 and the Reserve Bank of India (RBI) has set the issue price at Rs 6,199 per gram of gold.

The launch of SGB Scheme 2023-2024 Series III has come on the back of gold prices increasing by more than 10 percent in 2023 and defying expectations amid a high interest rate environment. Given the run-up in prices, should investors go for this series or wait for the next one, which will open in February?

The price of the SGB is fixed on the basis of a simple average of closing price of gold of 999 purity, published by IBJA for the last three working days of the week preceding the subscription period.

The investors will receive a fixed return of 2.5%, which is paid semi-annually based on the nominal value.The Sovereign Gold Bond has an eight-year tenure, with the option of premature redemption after the fifth year to be exercised on the date on which interest is payable,


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