Synopsis
The sovereign gold bond scheme is best suited for those wishing to invest in the yellow metal for the long term, according to market experts.
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Sovereign Gold Bonds are substitutes of buying physical gold.
NEW DELHI: The series-IX of the sovereign gold bond (SGB) scheme 2020-21 opened for subscription on Monday. The issue comes at a time when gold prices are trading near Rs 50,000 per 10 gram, off record highs.
Prospective bidders, who intend to subscribe to the scheme, can bid for a minimum of 1 gm of gold at Rs 5,000 per gram. There will be a Rs 50 discount for investors bidding online. The issue closes on Friday, January 1. Bond certificates will be issued on January 5.
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.
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.