Sovereign Gold Bond scheme 2023-24: 1st tranche opens for subscription from Monday; 8 reasons to buy

The Indian government is launching the Sovereign Gold Bond Scheme (SGB) 2023-24, Series I, opening for subscription on 19 June, with a nominal value of INR5,926 ($92.5) per gram of gold. Online subscribers are also eligible for a discount of INR50 per gram. Subscriptions end on 23 June. SGBs offer several advantages over physical gold, including an interest rate of 2.5% on capital appreciation, capital gains tax exemption after eight years of investment, guarantee against default, and high liquidity via exchange trading, said personal finance expert Jitendra Solanki.