RBI has announced Sovereign Gold Bond Scheme 2018-19– Series-I. The scheme is open for subscription from April 16, 2018 to April 20, 2018. The Bonds will be issued on the succeeding Monday after each subscription period. The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange.
The average closing price [published by the India Bullion and Jewelers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period, April 11-13, 2018 works out to ₹3,114/- (Rupees Three Thousand One Hundred Fourteen only) per gram.Government of India, in consultation with the Reserve Bank of India, has decided to offer discount of ₹ 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 ₹ 3064/- (Rupees Three thousand sixty four only) per gram of gold.
The click below link for features of the Bond and advantage of Sovereign Gold Bond over Physical form of gold.
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