Ahead of Dhanteras, Diwali the government’s sovereign gold bond scheme, ‘Sovereign Gold Bond Scheme 2019-20 – Series VI’ tranche opened for subscription on Monday.
The scheme will shut on October 25, 2019. On behalf of the government, the Reserve Bank of India will issue the bonds on October 30. The federal bank has reserved the sovereign gold bonds price at Rs ₹3,835 per gram of gold.
People who are looking forward to invest online will get Rs 50 per gram discount. The minimum permissible investment is fixed at 1 gram.
The RBI fixes the prices of the bonds by considering the data released by the India Bullion and Jewellers Association Ltd (IBJA). The federal bank considers the average closing price of 999 purity of the metal of the previous three business days of the week preceding the subscription period.
After this, the RBI will next open the bonds in December, January, February and March.
(With input from agencies)