The RBI has officialized the final redemption price for the Sovereign Gold Bond (SGB) 2018-19 Series-I, due on May 4, 2026, based on recent gold prices.
Final Redemption of Sovereign Gold Bond Scheme Announced
The Reserve Bank of India confirmed the final redemption price for the Sovereign Gold Bond (SGB) 2018-19 Series-I, which matures on May 4, 2026. This announcement comes in accordance with the norms specified in the government notification dated April 13, 2018.
The redemption price is determined by averaging the closing price of gold of 999 purity over the last three business days prior to the redemption date. This ensures that investors receive a return reflective of market conditions.
Clients and investors in gold bonds should be aware of these updates for their financial planning and strategy, particularly in relation to gold asset allocation within their portfolios.
Citations
- GOI Notification No.4(8)-W&M/2018 (2018)
