Categories: Business

gold bond issue price fixed at rs 4677 per gm

Photo: GOOGLE

Gold bond

new Delhi. The issue price for the third phase of the sovereign gold bond scheme has been fixed at Rs 4677 per gram. Today the government gave information about this. Investors can subscribe for the bonds in the scheme from 8 to 12 June. Along with this, a discount of Rs 50 per gram has also been announced on the issue price to online application providers and investors who have paid the amount. The issue price for such investors after the discount will be Rs 4627 per gram. The bonds will be issued on the 16th.

Sovereign Gold Bonds are issued by the Reserve Bank of India. In April itself, the Reserve Bank announced that gold bonds would be issued in 6 phases between April and September this year. The price of a gold bond is decided on the basis of gold, as well as the interest paid on the amount invested to the investors like government security. Investors can take bonds worth at least 1 gram through bonds. Its duration is 8 years, in which the option to withdraw after 5 years is also given. This method of investment is good for those who want to invest in gold but do not want to keep it in solid form.

The fourth phase of the scheme will open from July 6 to July 10 while the bonds will be released on July 14. The fifth phase will open from August 3 to August 7, with the wands releasing on August 11. The sixth and final phase will open from 31 August to 4 September, bonds will be issued on 8 September. The issue price is the average of the closing price of gold in the last 3 trading sessions in the last week from the opening day of the issue. This bond offers an interest of 2.5%.

This post was published on June 5, 2020 11:27 pm

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