New Delhi: The issue price for the upcoming series of Sovereign Gold Bonds has been set at Rs 4,791 per gramme of gold. The Sovereign Gold Bond Scheme 2021-22 (Series VIII), according to the Ministry of Finance, will be open for subscription from November 29 to December 3, with a December 7 settlement date.

"The Government of India, in collaboration with the Reserve Bank of India (RBI), has agreed to grant a discount of Rs 50 per gramme from the issue price to those investors who apply online and pay in digital manner," the statement added.

"The issue price of the Gold Bond will be Rs 4,741 per gramme of gold for such investors." Government securities denominated in gold grammes are known as SGBs (Sovereign Gold Bonds Scheme). Furthermore, they serve as stand-ins for possessing genuine gold. Investors must pay the issue price in cash, and the bonds will be redeemed in cash when they reach maturity. The Reserve Bank issues the bond on behalf of the government.

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