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19.05 - 06:59
Sovereign gold bonds catch investors’ fancy. Should you consider investing in them too?
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Gold bonds suit those with a longer time horizon, as they come with a long maturity of eight years The first tranche of sovereign gold bonds (SGB) for financial year (FY) 2021 saw subscription of 17.73 lakh units worth ₹822 crore—which is highest since the October 2016 issue—as per data provided by the Reserve Bank of India (RBI).
One unit of SGB is equal to one gram of gold and was priced at ₹4,639 per unit for the first tranche of FY21. The first SGB issue came in October 2015, and investors bought 9.14 lakh units worth ₹245 crore.
The popularity of the scheme surged, as it is the only gold investment option to pay guaranteed interest. The October 2016 issue saw the highest-ever subscription, as people bought 35.98 lakh units worth
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