The Reserve Bank of India has announced the final redressage date of the Sovereign Gold 2016-2017 Series IV, which is today. Let me tell you that the gold bond was launched eight years ago i.e. in March 2017. The Sovereign Gold Bond Scheme is completed in eight years. In such a situation, the final redressive date of Sovereign Gold Bond 2016-17 Series IV is falling today.
The final redness price for the Sovereign Gold Bond 2016-17 has been fixed at Rs 8,634 per gram based on the average price of gold closed on March 11, March 12 and March 13. So far, the government has not announced the release of any new sovereign gold bond this year.
The 2016-17 Series IV was released on 17 March 2017 Sovereign Gold Bond. During this period, its issue price was Rs 2,943 per gram, while for its final redress, Bullion and Jewelers Association Limited has fixed 8,624 per gram. This means that investors are getting a thick return of 193 percent in a period of 8 years.
Interest has not been added to this. Investors are given an interest of 2.50 percent every year on investing in Sovereign Gold Bond and it is paid every 6 months. SGB also gets a capital gain tax exemption from investment to maturity. That is, investors also get full money in it.
