The paper form of gold, SGBs issued by the government of India, has seen huge money coming in is open for subscription until December this year in view of the heightened demand for gold in South during the Christmas season. And for it investors can subscribe from Monday to Wednesday every week and subsequently for the week the subscription closes.
For the week beginning Monday i.e October 23-25 subscription period, the government has fixed the rates at Rs. 2971 per gram. Also, like during early subscription periods, for online subscription, individuals shall be entitled to a discount of Rs. 50 per gm.
In a press release, the government said, ""For the next subscription period i.e. October 23-25, 2017, the issue price shall be Rs 2,971 (rupees two thousand nine hundred seventy one only) per gram with Settlement on October 30, 2017".
Resident Indians including HUFs, individuals, trusts, HUFs, charitable institutions and universities are all allowed to invest in SGBs. The annual ceiling for investment limit takes into account subscription under different tranches as well as purchases made from the secondary market.