The Sovereign Gold Bond (SGB) scheme, which was open this week, will open for subscription subsequent for 5 days beginning November 9, and 4 extra occasions within the present monetary 12 months which ends in March 2021. The difficulty worth of those gold bonds is linked with the market worth of the yellow metallic within the spot market, and is arrived at utilizing a easy common of costs offered by Mumbai-based trade physique IBJA or India Bullion and Jewellers Association. For instance, a difficulty worth of Rs 5,051 per unit was relevant to the seventh tranche of gold bonds, which ended for subscription on October 16.
Issue Prices Of Series I-VII Gold Bonds
|Series (2020-21)||Dates||Issue Price|
|I||April 20 – April 24||Rs 4,639|
|II||May 11 – May 15||Rs 4,590|
|III||June 8 – June 12||Rs 4,677|
|IV||July 6 – July 10||Rs 4,852|
|V||August 3 – August 7||Rs 5,334|
|VI||August 30 – September 4||Rs 5,067|
|VII||October 12 – October 16||Rs 5,051|
Closing charges of three days previous to the primary day of subscription are taken into consideration to reach on the difficulty worth. For the seventh tranche, the problem worth of Rs 5,051 is calculated primarily based on IBJA charges of October 7-9.
|Date||Closing Price (Per Gram)|
|October 7||Rs 5,028.70|
|October 8||Rs 5,036.90|
|October 9||Rs 5,087.80|
The difficulty worth is introduced by the Reserve Bank of India forward of the launch of subscription window for every tranche.
Those subscribing to gold bonds on-line get a reduction of Rs 50 per unit. For instance, bonds below Series VII have been accessible on-line at Rs 5,001 per unit.
What Are Sovereign Gold Bonds?
Launched first in 2015, the Sovereign Gold Bond scheme is aimed toward enabling funding in non-physical gold, whereby the RBI points bonds linked to the market worth of gold on behalf of Government of India.
Each unit of the bond within the SGB scheme represents the present worth of a gram of gold.
The bonds have a maturity interval of eight years. (Know More About Gold Bonds)