is it possible to buy sgb online in SBI?
Earlier, we could easily buy Sovereign Gold Bonds through SBI’s platforms like the SBI Securities web trading platform or even the SBI Securities app. But here is the thing, the government has discontinued the new series of SGBs, which means we cannot buy fresh issues directly from the bank anymore.
Now, if you are like me and still want to invest in SGBs, don’t worry there is another way.
You can buy existing bonds from the secondary market, like the BSE (Bombay Stock Exchange) or NSE (National Stock Exchange).
The price of Sovereign Gold Bond on stock exchanges is equivalent to the simple average closing price of gold in the preceding 3 working days. Notably, it is the price of gold of 999 purity. As a result, you can buy gold in SGB form instead of physical Gold.
This eliminates the need to store gold, followed by the additional cost. However, ensure you check the market price of Sovereign Gold Bonds before you purchase them on stock exchanges.