RBI Declares Final Redemption Price for Sovereign Gold Bonds

Imagine you bought a special gold coin that wasn't a real coin, but a promise from the government to give you gold's value later.

You bought it in 2017 when gold was cheaper.

The government, through the Reserve Bank, just told you how much that promise is worth today when it's time to get your money back.

It's worth much more now than when you bought it!

This special promise, called a Sovereign Gold Bond, also gives you a small yearly payment, like interest, on the original price.

You can even get your money back a little early after five years if you want, but only on certain days.

The final amount you get back is based on the average price of gold on a few days just before your promise ends.