Chennai: So far this year, after redeeming 2.2 tons of sovereign gold bonds, another 6.19 tons of redemption this year. At the current price of gold, this will cost the government about Rs 610 crore. SGB ​​investors waiting for redemption may make their investment return 270%.
After completing an eight-year term in 2017, bonds issued in 2017 will be redeemed this year. According to the World Gold Council, bonds of 8.41 tons will be redeemed this year.
Among them, 2.2 tons of gold have been redeemed. The remaining 6.19 tons will be redeemed this year. At current gold rates, the exchange cost of these bonds could be Rs 61,415 crore.
Recently, for SGB Series III 2017-18, the Reserve Bank of India announced a mature redemption price of Rs 9,221 per bond. The problem price for the bond is Rs 2,964. The absolute rate of return on the bond is 211%.
However, with further gold prices rising, subsequent series sales prices will be higher. At current prices, this will provide bondholders with a return of approximately 270%. In addition, the bond holds a 2.5% interest rate, which is paid annually.
The government issued 67 gold bonds between fiscal 2016 and fiscal 24. Investors purchased 146.96 tons of gold under the plan. Among them, among the last three questions between September 2023 and February 2024, the purchase volume was the highest. The last period of February 2024 will be purchased at a maximum of 12.7 tons.
So far, six commanders issued in 2015 and 2016 have been redeemed.
