Rate of Sovereign Gold Bonds fixed at Rs. 2,934 per gram

New Delhi, November 4: In consultation with RBI, the price of the new series of Sovereign Gold Bonds (SGBs) has been fixed by the government at Rs. 2,934 per gram which will be opening for the purchase from Monday. To the investors applying online and making payments digitally the discount of Rs. 50 per gram will be offered.

 

According to the calendar announced, this round will be until December divided into 12 weeks. Between October 9 and December 27 every week the subscription will be opened from Monday to Wednesday and on the first business day of the following week, the settlement will be made. On October 11, the first tranche under the current schedule closed.

Sovereign Gold Bonds (SGBs) are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. On the behalf of Government of India, the Bond is issued by Reserve Bank.