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The nominal value of the Series X of Sovereign Gold Bonds, which will open for subscription from February 28 to March 04, 2022, has been set at ₹5,109 per gram of gold. This is ₹323 per gram higher than the value of the preceding series.
The Centre, in consultation with the Reserve Bank of India (RBI), 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 ₹5,059, as per a RBI 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 -- February 23, February 24, and February 25, 2022, the central bank said.
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