India's Sovereign Gold Bond Scheme 2023-24 - Series I - has opened for subscription until June 23, with a settlement date of June 27. The issue price is INR 5,926 ($79) per gram of gold, with a discount of INR 50 for online subscriptions. Investors selling before eight years of investing would be subject to short-term gains tax. However, there would be no capital gains tax if remaining invested for eight years. The bond is seen as more attractive against other forms of gold as there is no default risk and no expense in managing it.
