The government on Monday said it would issue gold bonds every month from October to February next year. The issuance of gold bonds will be under the SGB or Sovereign Gold Bonds scheme 2018-19, the Ministry of Finance said in a statement.
SGBs are government securities, denominated in grams of gold, that enable the investor to park funds in the yellow metal without having to deal in the precious metal in a physical form.
The per unit price of the gold bond is linked to the market value of gold. The gold bonds are redeemed in cash on maturity.
