Sovereign Gold Bond: RBI sets issue price at Rs 2934
06/11/2017
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Sovereign Gold Bond: RBI sets issue price at Rs 293406/11/2017
The Reserve Bank of India on Friday notified that the government has fixed issue price at 2934 per gram for Sovereign Gold Bond 2017-18 Series-VII. “For the subscription period from November 06, 2017 to November 08, 2017 with settlement on November 13, 2017, the nominal value of the bond based on the simple average closing price for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. November 01 to 03, 2017 works out to Rs 2934 per gram,” RBI said in a notification. The Sovereign Gold Bond Scheme will be open for subscription from Monday to Wednesday of every week starting from October 09, 2017 until December 27, 2017. The settlement will be made on the first business day of the next week for the applications received during a given week. Government of India, in consultation with the Reserve Bank of India, has decided to offer 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 Gold Bond will be Rs 2884 per gram of gold.
