Sovereign Gold Bond Scheme VIII: Buy gold at discounted price for 5 days, here’s how

RBI has fixed the issue price for Series VIII of Sovereign Gold Bond Scheme 2021-22 at Rs Rs 4,791 per gram of gold.

New Delhi: The Reserve Bank of India (RBI), on Friday (November 27), announced that it has fixed the issue price for Series VIII of Sovereign Gold Bond Scheme 2021-22 at Rs Rs 4,791 per gram of gold. 

The scheme will be open for subscription for five days starting from November 29. Investors planning to put their money on Sovereign Gold Bond Scheme can subscribe to the scheme from Monday (November 29) to Friday (December 3). 

"The nominal value of the bond...Works out to Rs 4,791 per gram of gold," the RBI said. For Series VII, the RBI had fixed the issue price at Rs 4,761 per gram of gold. 

However, investors subscribing to the scheme online will get an additional discount of Rs 50 per gram on the nominal value. Investors will have to pay in digital mode to take benefit of the discount offered by the Government of India, in consultation with the RBI. "For such investors, the issue price of Gold Bond will be Rs 4,741 per gram of gold," RBI said.

The central bank issued the bonds on behalf of the Government of India. Customers can buy the bonds through all leading public and private banks (except Small Finance Banks and Payment Banks). 

Investors can also buy the bonds using Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange (BSE) Limited. Also Read: IRCTC Update: Indian Railways launches Rampath Yatra Express from Maharashtra to Ayodhya

The Indian government had launched the Sovereign Gold Bond Scheme VIII in November 2015. The main of the scheme is to reduce the demand for physical gold and increase investments in yellow metal in digital form. Also Read: Xiaomi to open car plant in Beijing with annual output of 300,000 vehicles