Sovereign gold bond opens. Four reasons to apply for this RBI-backed scheme

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Sovereign gold bond 2023: The second tranche of the sovereign gold bond 2023 has opened today and it will remain open for subscribers till 15th September 2023. This means interested investor can apply for sovereign gold bond scheme till Friday this week. The Reserve Bank of India (RBI) on Friday declared sovereign gold bond price at ₹5,923 per gm.

The central bank of India also announced ₹50 per gm discount for online applicants. So, for those who apply and pay online for sovereign gold bond September 2023 issue, the issue will cost ₹5,873 per gm. Those who apply in this RBI-backed scheme, they get the value of their gold weight at the time of withdrawal along with 2.50 per cent per annum additional income.

So, if an investor applies for one gm of gold today then he or she will have to pay ₹5,923 for applying offline and ₹5,73 for applying online. As sovereign gold bond scheme has eight years tenor, one would get redemption amount after eight years as pet the one gm gold price at the time of redemption. Giving 'subscribe' tag to Sovereign gold bond scheme 2023-24 series 2, Sugandha Sachdeva, Executive Director & Chief Strategist at Acme Investment Advisors said, "Gold prices have been trading slightly subdued after testing record highs of ₹61,845 per 10 grams during the second quarter of 2023.