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.
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.