New Delhi, Oct. 27 -- Investors who purchased Sovereign Gold Bonds (SGBs) in April 2020 have earned substantial returns, with the Reserve Bank of India (RBI) fixing the premature redemption price of the 2020-21 Series I tranche at Rs.14,159 per gram. The latest price represents a gain of nearly 209% for investors who subscribed online at a discount.

According to the RBI's October 27 announcement, the redemption price will apply on October 28, 2026. The price is more than three times the original issue price, reflecting the sharp appreciation in gold over the past six-and-a-half years.

The SGB 2020-21 Series I bonds were issued on April 28, 2020, at Rs.4,639 per gram. Investors who applied online and paid digitally received a discount of...