The Sovereign Gold Bond programme is aimed at curbing the import of the yellow metal Bonds linked to the market price of gold under the government’s Sovereign Gold Bond scheme are available for purchase till Friday. This is an eighth tranche of the gold bond scheme, in which the RBI issues gold bonds on behalf of government. There will be four additional tranches this financial year, each of which will also be available for five days. For the current series, an issue price of ₹ 5,177 per unit is applicable. One unit is equivalent to the price of one gram of gold in the spot market.
But how is this price arrived at?
The issue price is calculated using a simple average of prices provided by Mumbai-based India Bullion and Jewellers Association (IBJA), an industry body. For example, an issue price of Rs 5,177 per unit is applicable to the eight […]
November 9, 2020 Published by StockMan