Sovereign Gold Bonds 2019-20 Series III: Issue price fixed at Rs 3,499 per gramme; subscription opens on August 5

The issue price of Sovereign Gold Bonds 2019-20 (Series III) has been fixed at Rs 3,499 per gramme of gold, the finance ministry said in a statement on Friday.

The Bonds will be open for subscription on August 5 and close on August 9.

"The issue price of the Bond during this subscription period shall be Rs 3,499 per gramme with settlement date August 14, 2019." it said.

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For such investors, the issue price of the gold bond will be Rs 3,449 per gramme of gold.

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 the purchase of gold into financial savings.

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