Sovereign Gold Bond rate fixed at 2,934 rupees per gram

 

The price of the new series of Sovereign Gold Bonds (SGBs) has been fixed at 2,934 rupees per gram. The government, in consultation with the Reserve Bank, has decided to offer a discount of 50 rupees per gram to investors applying online and making payments digitally.

This round is part of the SGB calender announced till December and is spread over 12 weeks. The subscription opens from Monday to Wednesday every week between October 9 and December 27. The settlement is to be made on the first business day of the following week. The first tranche under the current schedule closed on October 11.

Under the scheme, the bonds are denominated in units of one gram of gold and multiples thereof. Minimum investment in the bonds is one gram, with a maximum limit of 500 grams per person, per fiscal year (April to March).