Sovereign Gold Bond August 2022 Price: If you are planning to invest in Gold in the upcoming festival season, you may consider investing in the Sovereign Gold Bond scheme as it provides the safest and easiest way to make money from the yellow metal. 

The Ministry of Finance has announced the issue price and dates of the Sovereign Gold Bond Scheme 2022-23 (Series II). In a statement dated 19th August 2022, the Government said the issue price of the latest SGB offering is Rs 5197 per gram. The price of the latest series of SGB is Rs 106 more than the previous series announced in June 2022. 

“Sovereign Gold Bonds 2022-23 (Series II) will be opened for subscription during the period August 22-26, 2022 with settlement date August 30, 2022. The issue price of the Bond during the subscription period shall be Rs 5,197 per gram,” the statement said. 

The issue price of the previous SGB Scheme 2022-23 (Series 1) was Rs 5091 per gram, which Rs 106 less than the current series price. 

Rs 50 discount

Online subscription and payment for SGB come with Rs 50 discount. This means you apply online for SGB 2022 (Series 2) for just Rs 5147/gram.

“Government of India in consultation with the Reserve Bank of India has decided to allow discount of Rs 50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be ₹5,147 (Rupees five thousand one hundred forty seven only) per gram of gold,” the statement said. 

Also Read: Why should you invest in Sovereign Gold Bonds?

Key dates

The second tranche of SGB will open for subscription from August 22 till August 26, and the issuance of bonds will take place on August 30.

Should you invest? 

Experts say that SGB is a great way to invest in gold as it provides liquidity, requires no storage cost and is easier to redeem than digital gold. 

“Investment in Sovereign Gold Bonds has received a robust response. RBI has already raised a total of over Rs 25,702 crore from November 2015 till FY21. The investment in SGBs provides liquidity, it does not require any storage cost, easier to redeem than physical gold. Investment in SGBs comes with an interest coupon payable semi-annually,” Nish Bhatt, Founder & CEO, Millwood Kane International, said. 

Gold price trend

Bhatt further said that Gold prices are currently trading near a 3-week low, the softness is largely due to the encouraging economic data set being reported by the US. The strength of the dollar is also one of the reasons for the weakness in gold prices.

“Gold prices have risen around 8% a year to date in INR terms. Moving forward, gold prices will be guided by the pace of rate hikes and unwinding of liquidity measures by global central banks to contain inflation,” he said.