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

The Sovereign Gold Bonds 2019-20 (Series III) will be open for subscription on August 5 and close on August 9.

twitter-logo PTI        Last Updated: August 3, 2019  | 19:40 IST
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 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.

Also Read:Sovereign Gold Bond Scheme opens: All you need to know

It further said the government in consultation with the Reserve Bank of India has decided to allow a discount of Rs 50 per gramme from the issue price to those investors who apply online and the payment is made through digital mode.

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.

Also Read:BT Insight: All about gold ETFs, bonds and monetisation scheme

Also Read:Government fixes price for Series V gold bonds at Rs 3,214 per gram

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