India’s 2018 gold bond matures: its redemption value is not a spot quote
On 13 November 2026, a specific Indian gold-linked issue reaches maturity: Sovereign Gold Bond 2018-19 Series-III, issued on 13 November 2018.[1]
In its 12 November statement, the Reserve Bank of India sets final redemption at 14,024 rupees per unit and explicitly identifies the end of the eight-year term from issuance.[1]
This is therefore a settlement notice for a named security, not a new central-bank reserve purchase.
## A figure based on three business days
The redemption value uses the simple average of closing prices for gold of 999 purity published by the India Bullion and Jewellers Association for 10, 11 and 12 November 2026.[1]
The Economic Times article updated at 11:15:27 IST on 13 November confirms both the 14,024-rupee amount and the three dates used in the calculation.[2]
That average is the valuation basis for redemption of this particular series.[1]
It is not a spot observation at 19:00 in Italy, an LBMA benchmark or a retail quotation for a gold bar.
## Final maturity, not early exit
The primary source resolves an important ambiguity: the RBI statement refers to “final redemption” after the eight-year term.[1]
The newspaper’s text, while correctly reporting the issue date and final amount, also uses the word “prematurely” in connection with 13 November.[2]
For this issue, the interpretation followed here is the central bank’s: final redemption at maturity, not the opening of a new early-redemption window.[1]
## A security is not a bar in custody
The Economic Times describes SGBs as government securities denominated in grams of gold, issued by the RBI on behalf of the central government and offered as substitutes for holding physical gold.[2]
The distinction matters: a gold-linked bond should not be described as a bar owned and stored for an individual saver.
The Indian case illustrates why a series name, dates and valuation method are essential before comparing figures that all contain the word “gold.”
This article does not calculate returns, address individual tax treatment or suggest buying or selling. It provides general information about a documented redemption, not personalized investment advice.
Information about services concerning physical metal is available on [Masterblog’s physical-gold consultation page](https://masterblog.it/oro-fisico/); the link is not an investment recommendation.
## Sources
[1] https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=63964 — Press Releases | Official Website of Reserve Bank of India
[2] https://economictimes.indiatimes.com/wealth/invest/348-return-on-sgb-final-redemption-gold-bond-turns-rs-1-lakh-investment-into-rs-4-48-lakh-check-details/articleshow/135791010.cms — 348% return on SGB final redemption: Gold bond turns Rs 1 lakh investment into Rs 4.48 lakh; check details - The Economic Times