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Sovereign Gold Bond Scheme 2019-20 Series II Opens For Subscription

Capital Market 

According to a latest update from the RBI, the Sovereign Gold Bond Scheme 2019-20 - Series II will be opened for subscription for the period from July 08 - July 12, 2019. The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. July 03 - July 05, 2019 works out to Rs 3,443/- (Rupees Three Thousand Four Hundred Forty Three only) per gram.

Government of India, in consultation with the Reserve Bank of India, 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 Gold Bond will be Rs 3,393/- (Rupees Three Thousand Three Hundred Ninety Three only) per gram of gold.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 08 2019. 13:07 IST