Subscription Opens Today For Sovereign Gold Bonds For those looking to invest in gold, SGBs are a safe method to park money
Updated: December 28, 2020 1:20 pm IST
The tenure of the bond will be for a period of eight years with exit option after fifth year.
Government issued Sovereign Gold Bond Scheme 2020-21 Series IX opens for subscription today.
Sovereign Gold Bonds (SGBs) are government-backed securities issued by the Reserve Bank of India (RBI). The bonds are denominated in grams of gold with 999 purity. The RBI issues these bonds on behalf of the government and are open for subscription from December 28, 2020, to January 1, 2021. For those looking to invest in gold, SGBs are a safe method to park money.
The issue price for the next series of sovereign gold bonds has been fixed at Rs 5,000 per gram of gold, the Reserve Bank of India said in a statement on Thursday.
The Sovereign Gold Bond Scheme 2020-21 - Series IX will be open for subscription from December 28, 2020 to January 1, 2021. The nominal value of the bond.works out to Rs 5,000 per gram of gold, the RBI said.
The value of the bond is based on the simple average closing price (published by the India Bullion and Jewellers Association Ltd) for gold of 999 purity of the last three business days of the week preceding the subscription period, that is, December 22-24.
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Gold Investment: Sovereign gold bonds price fixed at Rs 5,000 per gm, subscription from December 28
The issue price for the next series of sovereign gold bonds has been fixed at Rs 5,000 per gram of gold, the Reserve Bank of India said in a statement on Thursday. The Sovereign Gold Bond Scheme 2020-21 - Series IX will be open for subscription from December 28, 2020 to January 1, 2021. The nominal value of the bond. works out to Rs 5,000 per gram of gold, the RBI said.
The value of the bond is based on the simple average closing price (published by the India Bullion and Jewellers Association Ltd) for gold of 999 purity of the last three business days of the week preceding the subscription period, that is, December 22-24.
The issue price for the next series of sovereign gold bonds has been fixed at Rs 5,000 per gram of gold, the Reserve Bank of India said in a statement on Thursday. The Sovereign Gold Bond Scheme 2020-21 - Series IX will be open for subscription from December 28, 2020 to January 1, 2021. "The nominal value of the bond.works out to Rs 5,000 per gram of gold," the RBI said.