Sovereign Gold Bond Scheme 2022-23 Series II August Prices, Dates, Benefits – Full Details

Gold Sovereign Bond Price August 2022: If you are planning to invest in gold during the upcoming festival season, you may want to consider investing in the Sovereign Gold Bond program as it offers the safest and easiest way to earn money with the yellow metal.

The Ministry of Finance has announced the price and issue dates of the Sovereign Gold Bond Scheme 2022-23 (Series II). In a statement dated August 19, 2022, the government said that the issue price of the latest SGB offering is Rs 5197 per gram. The price of the latest series of SGB is Rs 106 more than the previous series announced in June 2022.

“The 2022-23 Gold Sovereign Bonds (Series II) will be open for subscription during the period August 22-26, 2022 with a settlement date of August 30, 2022. The issue price of the bond during the subscription will be Rs 5,197 per gram,” the statement read.

The issue price of the previous SGB Scheme 2022-23 (series 1) was Rs 5091 per gram, which is Rs 106 less than the current price of the series.

Discount of 50 rupees

Subscription and online payment for SGB comes with a discount of Rs 50. This means you apply online for SGB 2022 (Series 2) for only Rs 5147/gram.

“The Government of India, in consultation with the Reserve Bank of India, has decided to allow a reduction of Rs 50 (Rupees Fifty only) per gram on the issue price to investors who apply online and payment is made in digital. For such investors, the issue price of Gold Bond will be ₹5,147 (rupees five thousand one hundred and forty-seven only) per gram of gold,” the statement read.

Also read: Why should you invest in gold sovereign bonds?

Key dates

The second tranche of SGB will be open for subscription from August 22 to August 26, and the bond issue will take place on August 30.

Should you invest?

Experts say SGB is a great way to invest in gold because it provides liquidity, requires no storage costs, and is easier to trade than digital gold.

“Investment in gold sovereign bonds has received a robust response. RBI has already raised a total of over Rs 25,702 crore from November 2015 to FY21. Investment in SGBs brings liquidity, it does not require any storage cost, easier to redeem than physical gold. Investing in SGBs comes with an interest coupon payable semi-annually,” said Nish Bhatt, Founder and CEO of Millwood Kane International.

Gold Price Trend

Bhatt further said that gold prices are currently trading near a 3-week low, the softness is largely due to the encouraging economic data set coming out of the US. The strength of the dollar is also one of the reasons for the weakness in gold prices.

“Gold prices have been rising around 8% per year so far in INR terms. Going forward, gold prices will be guided by the pace of rate hikes and the unwinding of measures. liquidity by global central banks to contain inflation,” he said.

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