Latest Tranche of Gold Bond Scheme Opens for Subscription

According to RBI, the issue price for the fourth tranche of the gold bond scheme is fixed at Rs 4,852 per gram.

SEATTLE (Scrap Monster): The fourth tranche of sovereign gold bond (SGB) scheme by the Reserve Bank of India (RBI) will be open for subscription today, July 6^th, 2020. The subscription of 2020-21 Series IV SGBs will be open for five consecutive days until 10^th July. The date of issuance is fixed as July 14^th, 2020.

The bonds will be sold through Scheduled Commercial banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognised stock exchanges, either directly or through designated agents. The bonds will be paid interest at fixed rate of 2.5% per annum, which will be paid semi-annually. It will be held in RBI books or in demat form.

ALSO READ: First Tranche of Gold Bond Posted Record Subscription

According to RBI, the issue price for the fourth tranche of the gold bond scheme is fixed at Rs 4,852 per gram. The purchases through digital mode will be offered discount of Rs.50 per gram. The price is determined on the basis of simple average of IBJA’s closing price of 999-purity gold for the last three working days of the week preceding subscription. The scheme’s tenor is fixed as eight years, with an exit option after the fifth year.

According to Ministry of Finance, two more tranches of gold bonds have already been scheduled, with date of issuance as August 11^th and September 8^th.

• Nevada Gold Mines Celebrates Official Opening of Goldrush Mine
• Botswana, Namibia Launch National E-Waste Monitors
• 2nd May, 2024: Scrap Gold and Silver Prices Dipped, Platinum Surged on Index
• 2nd May, 2024: North American Scrap Metal Prices Unmoved on Index