Sovereign Gold Bond Scheme 2020-21-Series III being opened for subscription from June 8

Sovereign Gold Bond Scheme 2020-21-Series III will be opened for subscription for the period from June 08, 2020 to June 12, 2020 as per RBI press release today. As per the notification, the issue price of Gold Bond will be ₹4,627/- (Rupees Four Thousand Six Hundred and Twenty Seven only) per gram of gold. The above price is fixed on the basis of 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. June 03 – June 05, 2020 works out to ₹4,677/- (Rupees Four Thousand Six Hundred and Seventy Seven only) per gram of gold. The Government offers 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 detail of advantage of sovereign gold bond over physical form of gold read below post