New Delhi - The first issue of the Sovereign Gold Bond (SGB) scheme for this year will begin on June 19th, with an opportunity to purchase gold in the form of bonds available until June 23rd. The price of gold in these bonds is usually slightly lower than the market rate. The second series will be launched from September 11th to 15th. SGB is a government-backed gold bond scheme of the RBI, with the issue price based on the average closing price of 999 purity gold in the last three working days prior to subscription. Online buyers can avail of a discount of INR 50 per 10 grams. An individual or a Hindu Joint Family can buy gold ranging from 1 gram to 4 kg through Gold Bonds. Investors receive 2.50% interest annually and can benefit from rising gold prices. The scheme matures in 8 years, but there is an exit option available upon completion of 5 years.
