Sovereign Gold Bond Scheme opens on Feb 28: Issue price, how to subscribe, and all you need to know
Zee News
Sovereign Gold Bond was launched in November 2015 under the Gold Monetisation Scheme by the Indian government.
New Delhi: The Reserve Bank of India will open the Sovereign Gold Bond (SGB) Scheme 2021-22 - Series X for subscriptions from February 28, 2022, to March 4, 2022, according to a press release.
For the unversed, Sovereign Gold Bond was launched in November 2015 under the Gold Monetisation Scheme by the Indian government. As part of the scheme, the RBI open issues for subscription to sovereign gold bonds in tranches.
Sovereign Gold Bond Scheme Series X Price Subscription
The RBI has fixed the price of the Sovereign Gold Bond Scheme Series X at Rs 5,109 per gram. The price is higher than previous schemes because of the rising gold prices in the past few days amid the ongoing Russia-Ukraine war.
The nominal value of the sovereign gold bond is based on the average closing price of gold of 999 purity of the last three business days preceding the subscription period. The closing price is published by the India Bullion and Jewellers Association Ltd.
