Govt fixes Sovereign Gold Bond rate at Rs 2,945 per gram

The purchase price for the Sovereign Gold Bond (SGB) series opening on Monday has been fixed at Rs 2,945 per gram, the Reserve Bank said on Friday.

The subscription for bonds runs from Monday to Wednesday every week.

The government, in consultation with the RBI, has also decided to offer a discount of Rs 50 per gram to investors applying online and making the payment digitally.

“For such investors, the issue price of the Gold Bond will be Rs 2,895 per gram of gold,” the central bank said while announcing the issue price for Sovereign Gold Bond 2017 -18 Series-VI.

For the subscription period from October 30 to November 1, the nominal value of the bond works out to Rs 2,945 per gram, the RBI said.

The issue price for Series-V was Rs 2,971 for every gram.

This is part of the SGB calender announced till December spread over 12 weeks. According to the calendar, it will be open for subscription from Monday to Wednesday of every week starting from October 9 until December 27. The first tranche under this closed on October 11.