Reserve Bank of India sets sovereign gold bond issue price at Rs 6,199/gram

The Reserve Bank of India (RBI) on Friday announced that the issue price for the next tranche of Sovereign Gold Bond has been fixed at Rs 6,199 per gram and will open for subscription on December 18 for five days. The Sovereign Gold Bond (SGB) Scheme 2023-24 - Series III will be open for subscription during December 1822, 2023. The SGBs will be sold through scheduled commercial banks (except small finance banks, payment banks and regional rural banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, National Stock Exchange of India Limited and Bombay Stock Exchange Limited. In a statement, the RBI said the nominal value of the bond based on the simple average closing price for gold of 999 purity works out to Rs 6,199 per gram. The central government, in consultation with the Reserve Bank, has also decided to offer a discount of Rs 50 per gram less than the nominal value to those investors applying online and

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