New Delhi, Nov. 13 -- The Reserve Bank of India (RBI) has fixed the final redemption price of Sovereign Gold Bonds (SGB) 2018-19 Series III at Rs.14,024 per gram. The bonds mature today, 13 November.

SGBs are government securities denominated in grams of gold and issued by the RBI on behalf of the Government of India. They allow investors to benefit from changes in gold prices without holding the physical metal, while also earning a fixed interest rate.

According to an RBI press release issued Thursday, the bonds are due for final redemption after completing eight years from their date of issue.

The RBI said, "The Gold Bond shall be repayable on the expiration of eight years from the date of issue of the Gold Bonds. Accordingly, the fi...