Gold Discount Sale – SGB
Table of Contents
Recent market observations indicate that certain SGB series are trading at a discount to the spot gold prices. This anomaly presents a unique opportunity for investors to acquire gold exposure at a potentially lower cost.
For instance, the SGB series SGBJUN27 is currently trading at a 6.74% discount to the Spot price of Gold. This discount suggests that investors can purchase this bond at a price lower than its intrinsic gold value. NSE has a dedicated watchlist to check the prices of all Sovereign gold bonds. Check out the page here.
SGB and their discounts to Spot price. Current Spot price Rs. 9335 as on 14th April 2025.
| Symbol | Issue Price | Maturity Date | Ask Price | Discount to Gold Price |
| SGBJUN27 | 3196 | Jun-27 | 8706 | 6.74 |
| SGBJ28VIII | 4016 | Jan-28 | 8735.11 | 6.43 |
| SGBMR29XII | 4662 | Mar-29 | 8761.65 | 6.14 |
| SGBD29VIII | 4791 | Dec-29 | 8762.84 | 6.13 |
| SGBJUL29IV | 4807 | Jul-29 | 8763.7 | 6.12 |
| SGBNV29VII | 4761 | Nov-29 | 8770.1 | 6.05 |
| SGBJUN29II | 4842 | May-29 | 8770.16 | 6.05 |
| SGBJAN30IX | 4786 | Jan-30 | 8770.46 | 6.05 |
| SGBNOV26 | 3183 | Nov-26 | 8775.01 | 6.00 |
| SGBJUL27 | 3443 | Jul-27 | 8776.01 | 5.99 |
| SGBMAY29I | 4777 | May-29 | 8779.67 | 5.95 |
| SGBJAN27 | 3214 | Jan-27 | 8779.73 | 5.95 |
| SGBN28VIII | 5177 | Nov-28 | 8781.75 | 5.93 |
| SGBOC28VII | 5051 | Oct-28 | 8782.5 | 5.92 |
| SGBJU29III | 4889 | Jun-29 | 8783.96 | 5.90 |
| SGBMAR30X | 5109 | Mar-30 | 8788.41 | 5.86 |
| SGBAUG29V | 4790 | Aug-29 | 8789.78 | 5.84 |
| SGBJAN29X | 5104 | Jan-29 | 8791.12 | 5.83 |
| SGBJUL28IV | 4852 | Jul-28 | 8794.95 | 5.79 |
| SGBJUN28 | 4677 | Jun-28 | 8795.54 | 5.78 |
| SGBDC27VII | 3795 | Dec-27 | 8798 | 5.75 |
| SGBMAR28X | 4260 | Mar-28 | 8798.95 | 5.74 |
| SGBOCT27 | 3788 | Oct-27 | 8799 | 5.74 |
| SGBJAN29IX | 5000 | Jan-29 | 8799.2 | 5.74 |
| SGBFEB28IX | 4070 | Feb-28 | 8799.62 | 5.74 |
| SGBSEP27 | 3890 | Sep-27 | 8800 | 5.73 |
| SGBOCT27VI | 3835 | Oct-27 | 8801 | 5.72 |
| SGBDEC26 | 3119 | Dec-26 | 8801.01 | 5.72 |
| SGBAUG30 | 5197 | Aug-30 | 8801.29 | 5.72 |
| SGBJUN30 | 5091 | Jun-30 | 8802 | 5.71 |
| SGBFEB29XI | 4912 | Feb-29 | 8808.98 | 5.63 |
| SGBAUG28V | 5334 | Aug-28 | 8814.6 | 5.57 |
| SGBAPR28I | 4639 | Apr-28 | 8814.93 | 5.57 |
| SGBFEB27 | 3326 | Feb-27 | 8828.65 | 5.42 |
| SGBSEP28VI | 5117 | Sep-28 | 8830 | 5.41 |
| SGBDE30III | 5409 | Dec-30 | 8834.48 | 5.36 |
| SGBMAY28 | 4590 | May-28 | 8845.17 | 5.25 |
| SGBMAR31IV | 5611 | Mar-31 | 8849.18 | 5.20 |
| SGBNOV258 | 2961 | Nov-25 | 8850 | 5.20 |
| SGBSEP29VI | 4732 | Sep-29 | 8857.64 | 5.11 |
| SGBSEP31II | 5923 | Sep-31 | 8861.67 | 5.07 |
| SGBAUG27 | 3499 | Aug-27 | 8862 | 5.07 |
| SGBJUN31I | 5926 | Jun-31 | 8867.69 | 5.01 |
| SGBOCT25IV | 2987 | Oct-25 | 8880 | 4.87 |
| SGBOCT25V | 2971 | Oct-25 | 8898 | 4.68 |
| SGBJAN26 | 2881 | Dec-25 | 8900 | 4.66 |
| SGBMAY26 | 3114 | May-26 | 8900 | 4.66 |
| SGBOCT26 | 3146 | Oct-26 | 8900 | 4.66 |
| SGBDE31III | 6199 | Dec-31 | 8917.45 | 4.47 |
| SGBNOV25 | 2934 | Nov-25 | 8925 | 4.39 |
| SGBDEC25 | 2961 | Dec-25 | 8925 | 4.39 |
| SGBDEC2513 | 2866 | Dec-25 | 8935 | 4.28 |
| SGBNOV25VI | 2945 | Nov-25 | 8946.16 | 4.17 |
| SGBOCT25 | 2956 | Oct-25 | 8950 | 4.12 |
| SGBJUL25 | 2830 | Jul-25 | 8950.32 | 4.12 |
| SGBFEB32IV | 6263 | Feb-32 | 8972.68 | 3.88 |
| SGBDEC2512 | 2890 | Dec-25 | 9168 | 1.79 |
| SGBDEC25XI | 2952 | Dec-25 | 9239.49 | 1.02 |
Strategic Investment Considerations
Investors looking to capitalize on these discounts should consider the following strategies:
🔸 Diversification: Consider buying SGB’s instead of Gold ETF and Physical gold.
🔸 Discount Monitoring: Setting up alerts for significant discounts can aid in timely investment decisions. Platforms like SGB Analyzer offer tools to track real-time SGB prices, discounts, and yields, enabling investors to act swiftly when favorable conditions arise.
🔸 Liquidity Assessment: Considering the trading volume and liquidity of an SGB series is crucial. Bonds with higher liquidity are easier to buy or sell without significantly impacting the market price.
Conclusion
The current market scenario, with certain SGB series trading at discounts to spot gold prices, offers a compelling opportunity for investors to gain gold exposure at favorable rates. By leveraging tools that monitor real-time data and setting up alerts for discounts and yield thresholds, investors can make informed decisions to enhance their portfolios. However, it’s essential to conduct thorough research and consider personal financial goals and risk tolerance before investing.
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Disclaimer: Investment in gold and related instruments carries risks. It’s advisable to consult with financial advisors and conduct due diligence before making investment decisions.
