How can I determine the current value of a sovereign gold bond that I have purchased?
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To determine the current value of a Sovereign Gold Bond (SGB) that you have purchased, you can follow these steps: Check the current market price of gold: The value of SGBs is linked to the prevailing market price of gold. You can find the current market price of gold by checking financial news websRead more
To determine the current value of a Sovereign Gold Bond (SGB) that you have purchased, you can follow these steps:
Check the current market price of gold: The value of SGBs is linked to the prevailing market price of gold. You can find the current market price of gold by checking financial news websites, commodity exchanges, or online gold price trackers.
Calculate the value of your SGB: Multiply the quantity of gold in your SGB by the current market price of gold. The quantity of gold in an SGB is denoted in grams and is mentioned in your bond certificate or can be obtained from your demat account.
Consider accrued interest: SGBs also accrue interest at a fixed rate of 2.5% per annum on the initial investment amount. You can calculate the accrued interest by multiplying the initial investment amount by the applicable interest rate and the number of days since the last interest payment.
Add accrued interest to the value of gold: Add the accrued interest calculated in step 3 to the value of gold calculated in step 2 to arrive at the current value of your SGB.
It’s important to note that the value of SGBs may fluctuate based on changes in the market price of gold. You may also need to consider brokerage charges, taxes, and other fees associated with buying or selling SGBs. Consulting with a financial professional or checking with the issuing authority for the most accurate and up-to-date valuation of your SGB is recommended.