<h1>Sovereign Gold Bond issuance provides fixed interest, defined tenure, tradability, collateral use and specified tax treatment.</h1> Sovereign Gold Bond 2017-18 Series I is an eight-year government-issued gold-denominated security with an exit option from year five, denominated in gram units. Issue and redemption prices are determined in rupees using the simple average of the previous week's closing price of 999 purity gold published by the industry association; the issue price is set marginally below nominal value. Bonds carry a fixed interest payable semi-annually on nominal value, are issued as Government of India Stocks and may be converted to demat form. Resident Indian persons and entities face minimum and annual maximum subscription limits and must comply with KYC and payment norms.