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Govt fixes sovereign gold bond rate at Rs 2,961/g

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Govt fixes sovereign gold bond rate at Rs 2,961/g
The price of new series of sovereign gold bonds (SGBs) opening on Monday has been fixed at Rs 2,961 per gram, the Reserve Bank of India said on Friday.The government, in consultation with the Reserve Bank of India, has decided to offeradiscount of Rs 50 per gram to investors applying online and making payments digitally.“For the subscription period from November 27, 2017, to November 29, 2017,the nominal value of the bond based on the simple average closing price for gold of 999 purity of the last three business days of the week preceding the subscription period (November 22 to 24) works out to Rs 2,961,” the RBI said in a statement.
The Business Standard, New Delhi, 25th November 2017

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