The issue price for the Sovereign Gold Bond has been set at Rs 4,852 per gram of gold, the Reserve Bank of India stated in a statement on Friday.
The Sovereign Gold Bond Scheme 2020-21-Series IV will be prepared for a subscription for the period within July 6 and July 10.
In April, the central bank declared that the government would issue Sovereign Gold Bonds (SGBs) in six parts commencing from April 20 till September.
Sovereign Gold Bond 2020-21 will be issued by the Reserve Bank of India (RBI) on account of the Government of India.
RBI further added that “The nominal value of the bond based on the simple average closing price for gold of 999 purity of the last three working days of the week leading the subscription period…works out to Rs 4,852 per gram of gold.
It further stated that the government, in consultation with the central bank, has determined to offer Rs 50 per gram less than the nominal value to those investors applying online. The payment for the application is made through the digital method.