Investors lap up Rs 27k-cr gold bonds in FY24

Mumbai: Sovereign gold bonds have caught the fancy of investors, who bought Rs27,031 crore worth of the bonds last fiscal, an amount more than four times invested in 2022-23 on the prospects of higher returns and tax benefits.

The bonds bought by investors represented a whopping 44.34 tonne of gold during 2023-24. In 2022-23, Sovereign Gold Bonds (SGBs) representing 12.26 tonne of gold were purchased for Rs6,551 crore. “The aggregate sum raised during 2023-24 amounted to Rs27,031 crore (44.34 tonne),” said the annual report of Reserve Bank, which issues the bonds on behalf of the central government.