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Friday, 1 December 2017

Govt Fixes Sovereign Gold Bonds Rate at Rs 2,952/gram


The government has fixed 2,952 rupees per gram as price of new series of sovereign gold bonds (SGBs). The government, in consultation with the Reserve Bank, has decided to offer a discount of Rs 50 per gram to investors applying online and making payments digitally.

The issue price will be Rs 2,902 a gram for investors applying online and the payment through digital mode.

About Sovereign Gold Bond-
Sovereign Gold Bonds are Government securities denominated in multiples of gram(s) of gold. They are substitute for investment in physical gold. To buy the bond, investor has to pay the issue price in cash to an authorised SEBI Broker. These Bonds are issued by the Reserve Bank of India on behalf of the Government of India and are traded on stock exchange.

Source- News on AIR


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