Sovereign Gold Bond: Buy gold at discounted price from today
The subscription of Sovereign Gold Bond (SGB) will open today. SGBs are government-backed securities denominated in grams of gold. They are substitutes for holding physical gold.
The issue price for Sovereign Gold Bond Scheme 2021-22 Series IV has been fixed at Rs 4,807 per gram of gold. The subscription window will remain open for five days (July 12 to 16).
Investors can buy the bonds by paying the issue price in cash. The bonds will be redeemed in cash on maturity.
The Bond is issued by the Reserve Bank on behalf of the Government of India.
NEW DELHI: The fourth tranche of sovereign gold bond of this fiscal opened for subscription on Monday. The issue price for Sovereign Gold Bond Scheme 2021-22 has been fixed at Rs 4,807 per gram of gold, the Reserve Bank of India (RBI) said on Friday. The nominal value of the bond.works out to Rs 4,807 per gram of gold, the RBI said.
Here are key things to know about the scheme: The government, in consultation with the RBI, also provides a discount of Rs 50 per gram to those investors applying online and the payment against the application is made through digital mode.
Sovereign Gold Bond Scheme 2021-22 – Series IV subscription opens on Monday: Check issue price indiatvnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatvnews.com Daily Mail and Mail on Sunday newspapers.
Highlights
An investor has to buy at least one gram of gold during the subscription window.
An individual investor can buy a maximum of 4 Kg gold.
New Delhi: The Reserve Bank of India (RBI) is opening the fourth tranche of Sovereign Gold Bond Scheme 2021 for subscriptions on Monday (July 12) for five days. Investors planning to invest in gold can choose the option of the sovereign bond, as it is usually more affordable than current rates. RBI has fixed the issue price at Rs 4,807 per gram for the latest Sovereign Gold Bond offering.
In an official announcement, RBI said, “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 of the last three business days of the week preceding the subscription period July 07, July 08 and July 09, 2021, works out to Rs 4,807/- per gram of gold.”
Sovereign Gold Bond Scheme IV: Issue price fixed at Rs 4,807 per gram business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.