5-Day Subscription Window For Sovereign Gold Bonds Opens On July 6© hindustantimes.com

5-Day Subscription Window For Sovereign Gold Bonds Opens On July 6

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With the gold price rising, as always Indians are looking to buy or invest in it, given their obsession with the yellow metal. Now, investing in gold is more easy and convenient, especially with the Government’s Sovereign Gold Bond (SGB) Schemes.

The Sovereign Gold Bond Scheme 2020-21-Series IV is open for subscription from today for the period of 5 days, from July 6 to July 10. These bonds are being issued by the RBI on behalf of the Government of India. In April 2020, the central bank had announced that the government will issue Sovereign Gold Bonds in 6 tranches starting from April 2020 till September 2020.

The Reserve Bank of India (RBI) has set the issued price of the SGB at Rs 4,852 per gram of gold. According to the RBI circular dated July 3, 2020, “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 3 working days of the week preceding the subscription period, i.e. July 01 – July 03, 2020, works out to Rs 4,852 per gram of gold.”