The Reserve Bank has announced that the government has fixed the price at Rs 3,214 per gram for the new series of sovereign gold bonds which are scheduled to open on Monday. The Sovereign Gold Bonds 2018-19 (Series V) will be opened for the period January 14-18.
The RBI said in a statement, “Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of Rs 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode.”
This means that the issue price of the gold bond for such investors will be Rs 3,164 per gram of gold. The gold bonds will be available for purchase through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices, and stock exchanges NSE and BSE.
Minimum investment in the bonds is one gram with a maximum limit of subscription is 4 kg for individual and Hindu Undivided Family (HUF) and 20 kg for trusts and similar entities per fiscal (April-March).