The government of India on Friday announced that the first tranche of Sovereign Gold Bond scheme for the current year 2018-19 will open for subscription from April 16 to April 20. While Sovereign Gold Bond 2018-19 Series 1 price has been not announced yet, the Finance Ministry said in a tweet that it will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Limited (IBJA) for the "last three working days of the week preceding the subscription period". The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges - National Stock Exchange of India and Bombay Stock Exchange of India. Here's all you need to know about the\u00a0\u00a0Sovereign Gold Bond scheme 2018-19: Sovereign Gold Bond is a fixed-term bond issued by the Reserve Bank of India, which represents the exact weight of gold purchased by the investor for a period till the maturity of the security. It is just like gold in value but only in paper or demat format. The first tranche of Sovereign Gold Bond scheme for the current year 2018-19 will open for subscription from April 16 to April 20 with a basic unit of 1 gram. The Sovereign Gold Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and Charitable Institutions. The tenure of the bond will be for a period of\u00a0eight years with an\u00a0exit option in 5th, 6th and 7th year. The minimum investment\u00a0limit 1 gram of gold, while the maximum limit is 4 kgs for individuals and HUF and 20 kgs for trusts. For those who will subscribe the Gold Bonds online will get a benefit of Rs 50 per gram.\u00a0Payment for the Bonds will be accepted through cash payment (up to a maximum of Rs 20,000) or demand draft or cheque or electronic banking.