The Reserve Bank of India (RBI) announced on Friday that the issue price for the next installment of the Sovereign Gold Bond 2023-24 series has been set at 5,923 rupees per gram. The subscription for the second installment of the Sovereign Gold Bond will open on September 11th.
Announcing the issue price for the Sovereign Gold Bond Scheme 2023-24 Series 2 (second installment), the Reserve Bank of India (RBI) stated, “The nominal value of the bond is based on the simple average closing price of gold (999 purity) for the last few business days. Accordingly, the gold price is fixed at 5,923 rupees per gram.”
The government has decided, based on RBI’s advice, to provide a discount of 50 rupees per gram on the nominal value to investors who apply online and make digital payments. For such investors, the issue price of the Sovereign Gold Bond will be 5,873 rupees per gram.
According to the RBI statement, the subscription for the second installment of the Sovereign Gold Bond 2023-24 Series will be open from September 11th to September 15th. The sale of the bonds will be conducted through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognized stock exchanges – NSE and BSE.
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