SGB's redemption price is determined by the average closing price of 999 purity gold as published by the India Bullion and Jewelers Association Limited (IBJA) for the three business days before the redemption date.
The central bank has announced that the final redemption price has been set at Rs 6,601 per unit, reflecting the simple average closing price of gold for the week of March 18-March 22, 2024.
Sovereign Gold Bond 2023-24 Series IV: SGB 2023-24 Series IV opened for subscription on February 12, 2024 and closed on February 16, 2024. However unlike initial public offering (IPO) where investors may or may not get allotment, in SGBs if a investor applies and the documents checks out and application money is remitted on time, allotment is guaranteed.
India Business News: Investing in Sovereign Gold Bonds (SGB) can be an attractive option for many investors. Learn how to check your SGB allotment details after applying online or offline. Stay updated on your investments.
SGB investment: The SGBs are issued as Government of India Stock under Government Securities Act, 2006. Investors get a Certificate of Holding for the same when they invest in it.