Gold & Silver

Nominal value of FY2022’s Series I of Sovereign Gold Bond set at ₹4,777 per gram of gold

Our Bureau Mumbai | Updated on May 14, 2021

SGB Scheme 2021-22 - Series I will be open for subscription from May 17 to May 21

The Reserve Bank of India (RBI) on Friday said the nominal value of the first series of Sovereign Gold Bond (SGB) Scheme 2021-22 works out to ₹4,777 per gram of gold.

This is ₹115 higher than the nominal value of the last series (XII) of SGB in FY2021.

The SGB Scheme 2021-22 - Series I will be open for subscription from May 17 to May 21.

The Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of ₹50 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 Gold Bond will be ₹4,727 per gram of gold, RBI said in a statement.

The nominal value of the bond is 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 -- May 11, May 12 and May 14 (May 13 being a holiday), it added.

Published on May 14, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like