The Sovereign Gold Bond Scheme 2019-20 (Series-6) opened from today. It will continue till Friday. The issue price of the Bond during this subion period will be 3,835 rupees per gram, with the settlement date of 30th of this month. The Centre, in consultation with the Reserve Bank of India, has decided to allow a discount of 50 rupees per gram from the issue price to those investors who apply on-line and make the payment through the digital mode.
For such investors, the issue price of Gold Bond will be 3785 rupees per gram of gold. SGB Scheme is aimed at providing alternative to buying physical gold. Under it, bonds are denominated in units of one gram of gold and multiples thereof. These gold denominated bonds are restricted for sale to resident Indian entities, including individuals, Hindu undivided families (HUF), trusts, universities and charitable institutions.