Government Fixed SGB Rate At Rs. 2952 Per Gram For Bond Issue That Opened Today

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For the subscription that opens today until December 6th, 2017, the government has fixed the price at Rs. 2952 per gram of sovereign gold bond. Online investors will be eligible for a discount of Rs. 50.

Government Fixed SGB Rate At Rs. 2952 Per Gram For Bond Issue That Opened Today

The finance ministry statement says, "For the next subscription period December 4-6, the issue price shall be Rs 2,952 per gram with Settlement on December 11, 2017, as also published by RBI in its Press Release dated November 30, 2017".

The SGB calendar spread over twelve weeks time is part of the offer open for subscription until December this year. The scheme has been extended upto December in light of the heightened buying interest of gold investors just ahead of the Christmas festivities.

The bond issue opens on Monday every week which can be subscribed until Wednesday of the same week while the settlement per se the issuance has to be made on the first working day of the following week. The government issues a subscription certificate which can be redeemed either at maturity after eight years or after 5 years in case the need arises.

On the SGB, investors earn a 2.5% interest per annual that is payable semi-annually.

With Inputs From PTI

Read more about: sgb, gold, capital gains tax
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