The issue price for the Sovereign Gold Bond has been fixed at Rs 4,639 per gram of the yellow metal, the Reserve Bank said in a statement on Friday.
The subscription for 2020-21 series will open from April 20 and until April 24. Earlier in this week, the government said it will issue SGBs in six tranches.
"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...works out to Rs 4,639 per gram of gold," the RBI said.
At this time, when gold has emerged as the best asset amid all the market volatility, investors even applying for the SGBs at higher price shall be better off, given the scope of capital appreciation.