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Sovereign Gold Bond Scheme 2018-19 Opens for Subscription

By Religare

The Sovereign Gold Bond Scheme 2018-19 - Series III will be opened for subscription for the period from November 05, 2018 to November 09, 2018, says Reserve Bank of India.

"The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. October 31-November 02, 2018 works out to Rs 3,183 per gram," RBI said in a press release.

Sovereign Gold Bond Scheme 2018-19 Opens for Subscription

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. For such investors, the issue price of Gold Bond will be Rs 3,133 per gram of gold, it added.

Read more about: gold
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