Sovereign Gold Bond Scheme: The Reserve Bank of India (RBI) has announced the premature redemption price of the Sovereign Gold Bond Scheme issued for 2019-20 Series V (SGB 2019-20 Series V – Issue date October 15, 2019) on 15 October 2019. The redemption price of the sovereign gold bond of this series has been fixed at Rs 7549 per gram. Investors who have invested in this gold bond are going to get an additional return of Rs 3761 per gram on their investment. That is, investors are going to get double returns on their investment in 5 years.
Premature redemption of Sovereign Gold Bond from October 15
The Reserve Bank of India said that Sovereign Gold Bond 2019-20 Series V was issued on 15 October 2019. As per RBI rules, investors are given the option of premature redemption from the date on which interest is paid after five years of the issuance of Sovereign Gold Bond. Premature redemption of Sovereign Gold Bond of this series has been allowed from Tuesday, 15 October 2024.
Fixed on the average price of gold for 3 days
According to RBI, the redemption price of Sovereign Gold Bond has been fixed on the basis of the average closing price of 999 purity gold according to India Bullion and Jewelers Association Ltd in the three trading sessions before the redemption date. Under this, the redemption price of Sovereign Gold Bond of Series V of 2019-20 on 15 October 2024 has been fixed at Rs 7549, which is the average price of the closing price of gold on 10 October, 11 October and 14 October 2024.
Benefit from the rise in gold prices
Investors who hd invested in sovereign gold bonds have got strong returns on premature redemption of gold bonds. Investors have got more than double returns on some sovereign gold bonds. This is the result of a sharp rise in gold prices in 2024.
