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Sovereign Gold Bond Scheme 2019-20 Series VI To Be Launched At Nominal Value Of Rs 3835 Per Gram

Capital Market 

The RBI noted in a latest update that Sovereign Gold Bond Scheme 2019-20 - Series VI will be opened for subscription for the period from October 21 - October 25, 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. October 16 - October 18, 2019 works out to Rs 3,835/- (Rupees Three Thousand Eight Hundred Thirty Five only) per gram of gold.

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 3,785/- (Rupees Three Thousand Seven Hundred Eighty Five 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: Tue, October 22 2019. 15:42 IST