Sovereign gold bond Series V opens for subscription from today

The scheme will remain open till August 13 to give a chance to people to buy gold at a lower price.

Aug 09, 2021 02:08 IST India Infoline News Service

The Sovereign Gold Bond Scheme Series V or the fifth tranche opens for subscription from today on Monday, August 9, 2021. The scheme will remain open till August 13 to give a chance to people to buy gold at a lower price.

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 three business days of the week preceding the subscription period, i.e. August 04, August 05 and August 06, 2021, works out to Rs4,790 per gram of gold, according to the RBI statement.

The Government of India, in consultation with the Reserve Bank of India (RBI), has decided to offer a discount of Rs50 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 the Gold Bond will be Rs4,740 per gram of gold.

The government had earlier announced that it will issue the sovereign gold bond in six tranches from May 2021 to September 2021.

A sovereign gold bond is an opportunity to buy gold, get regular cash flow and exemption from capital gains if held till maturity. This investment opportunity gives you a chance to earn from your gold investment.

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