RBI fixes gold bonds issue price at Rs 2,964 per gram

New Delhi: Issue price for the next tranche of Sovereign Gold Bond, opening November 20, has been fixed at Rs 2,964 per gram.

"For the next subscription period i.e. November 20-22, 2017 for Series III of the Sovereign Gold Bonds 2017-18, the issue price shall be Rs 2,964 per gram with Settlement on November 27, 2017," the central bank said while announcing the issue price.

"The government in consultation with RBI had floated Series III of Sovereign Gold Bonds 2017-18, for the period from October 09, 2017 to December 27, 2017 (with subscription period Monday to Wednesday every week), it added.

The bonds will be issued on the succeeding Monday after each subscription period.

The government has also decided to allow discount of Rs 50 per gram from the issue price to those investors who apply online and the payment is made through digital mode.  

The sovereign gold bond scheme was launched in November 2015 with an objective to reduce the demand for physical gold and shift a part of the domestic savings, used for purchase of gold, into financial savings.