New Delhi: The Reserve Bank of India (RBI) has launched the sixth scheme of Sovereign Gold Bond for the current financial year. The subscription for the same will start from August 30, which will continue till September 3. The issue price for gold bonds has been fixed at Rs 4,732 per gram. The application for the same will open from Monday. A discount of Rs. 50 per gram will be available separately on online or digital payments.
The government has decided to apply 'online' in consultation with RBI and give a concession of Rs 50 to investors who pay digitally. According to RBI, the issue price of gold bonds for such investors will be Rs 4,682 per gram. Earlier, the government had announced the issuance of government gold bonds in six installments between May 2021 and September 2021. RBI issues bonds on behalf of the Government of India. The bonds are sold through banks (excluding small finance banks and payment banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognized stock exchanges National Stock Exchange of India Limited and Bombay Stock Exchange (BSE).
Sovereign gold bonds are in a way paper gold, as you are allowed to invest gold by writing on paper. The price of the bond is determined as the weight of gold. In other words, the bond will be priced at the same price as physical gold in the market. This rate is determined by the price per gram of gold. The number of grams of gold that is bonded will be equal to gold when sold.
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