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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.
For the subscription period from October 09, 2017 to October 11, 2017 with settlement on October 16, 2017, the nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewelers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. October 04-06, 2017 works out to ₹ 2956/(Rupees Two thousand Nine Hundred and Fifty Six)- per gram.
Government of India, in consultation with the Reserve Bank of India, has decided to offer discount of ₹ 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 ₹ 2906/- (Rupees Two Thousand Nine Hundred and Six only) per gram of gold.
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