Sovereign Gold Bond scheme to open today: 10 things to know
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
BusinessToday.In | December 28, 2020 | Updated 11:45 IST
Sovereign Gold Bond 2020-21 is issued by the Reserve Bank India on behalf of the Government of India
The latest installment of the government-run Sovereign Gold Bonds (SGBs) 2020-21- Series IX- will open for subscription today. The last date for subscription is January 1, 2021, with January 5 as the settlement date. The issue price for the next series of sovereign gold bonds is fixed at Rs 5,000 per gram, the Reserve Bank of India said in a statement on Thursday.
RBI s Sovereign Gold bond opens for subscription today
The RBI issued 10 tranches of sovereign gold bonds for an aggregate amount of Rs 2,316.37 crore (6.13 tonnes) during 2019-20. December 30, 2020 / 12:11 PM IST
The Sovereign Gold Bond Scheme 2020-21 – Series IX will be open for subscription today, December 28 till January 1, 2021. The issue price for the latest tranche of gold bonds has been fixed at Rs 5,000, though a discount of Rs 50 per gram on the nominal value will be offered to investors applying online and making the payment against the application through digital mode, the Reserve Bank of India had 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.
RBI’s Sovereign Gold Bonds scheme opens today price, how to apply, and more
Rounak JainDec 28, 2020, 11:14 IST
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The RBI has opened the latest tranche of Sovereign Gold Bonds for subscription.
The issue price has been fixed at ₹5,000 per gram of gold and a discount of ₹50 can be availed by applying online.
The last day for subscription is January 1, 2021.
The Reserve Bank of India (RBI) has opened the latest tranche of Sovereign Gold Bonds for subscription from today. The RBI has fixed the issue price under this scheme at ₹5,000 per gram of gold. Additionally, investors who apply online and make payment using a digital mode will be eligible for a ₹50 discount and can apply at ₹4,950 per gram.
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Sovereign Gold Bonds: Subscription opens today
Buying gold is always considered one of the safest investments. It is highly advisable to have gold in your investment portfolio to minimise the risk. The government has just opened the Sovereign Gold Bonds 2020-21 (Series IX) for subscription. For those willing to invest in gold, this could be a safe mode for them to park their money. The last date for subscription is January 1, 2021, with January 5 as the settlement date.
The price of one unit (1 gram of 24 karat) is Rs 5,000 per gram. The government is giving a discount of Rs 50 if investors apply using the digital mode.
Subscription for RBI s Sovereign Gold bond opens today
Gold
For those looking to invest in gold, the RBI s Sovereign Gold Bond (SGB) Scheme 2020-21 â Series IX will open for subscription on Monday, December 28. The scheme will remain open till January 1, 2021.
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.
SGBs are considered a safe method to park money.
The issue price for the latest tranche of gold bonds has been fixed at Rs 5,000. The Union 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 SGB will be Rs 4,950 per gram of gold, according to RBI.