Sovereign Gold Bond scheme to open for subscription on November 9

Sovereign Gold Bond scheme to open for subscription on November 9

The Reserve Bank of India has said that the issue price for the Sovereign Gold Bond is fixed at Rs 5,177 per gram of gold. The eighth tranche of sovereign gold bonds of this fiscal will be opened for subscription from November 9 to 13, 2020.

In a statement the central bank on Friday said that the “nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity … works out to Rs 5,177 per gram of gold.”

It further said the government, in consultation with the RBI, has decided to offer a discount of Rs 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode.

“For such investors, the issue price of Gold Bond will be Rs 5,127 per gram of […]

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