Govt. announces Issue price of Sovereign Gold Bond series VI

The Reserve Bank of India made the announcement of issuance of the Sovereign Gold Bond Scheme 2019-20 Series on various dates in tranches starting from tranche series V to tranche series X. In the notification dated October 3, 2019 RBI indicated dates the Bond issued to the investor of every tranche. Accordingly, the Bond issue of tranche VI is opened for the investor. The tranche series VI is now open for the investors to subscribe between Oct 21 and October 25, 2019, which will be issued on October 30, 2019, to the investors.
The Government of India in consultation with the Reserve Bank of India has declared that the issue price of Sovereign Gold Bond Scheme of series VI subscribed between Oct 21 and October 25, 2019, will be Rs.3,835/- (Rupees Three Thousand Eight Hundred Thirty-Five only) per gram of gold. The nominal value of Sovereign Gold Bond (issue price of the bond) is decided 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. The average rate for gold of 999 purity between October 16 – October 18, 2019, works out to ₹ 3,835/- (Rupees Three Thousand Eight Hundred Thirty-Five only) per gram of gold. The Government offers a 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 ₹ 3,785/- (Rupees Three Thousand Seven Hundred Eighty-Five only) per gram of gold. Click SGB for more details about Sovereign Gold Bonds