Sovereign Gold Bonds (SGB) Scheme: Government Sets Issue Price

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Gold Bonds Scheme's 7th Tranche Opens On Monday: Check Issue Price

Sovereign Gold Bonds: The issue price is set at ₹ 4,765 per unit in the seventh tranche

Sovereign Gold Bond 2021-22 Scheme: The seventh tranche of the government-run sovereign gold bond scheme 2021-22 opens for subscription on Monday, October 23, 2021. The seventh tranche window will be open for investors between October 25 – October 29 – for a period of five days, according to the schedule set for the gold bond scheme 2021-22 by the Reserve Bank of India (RBI). The interest-paying gold bonds are a popular means to purchase the yellow metal in a non-physical form. (Also Read: Gold Bond Series VII-X Opens Soon: Key Things To Know )

According to the RBI, an issue price of Rs 4,765 per unit, equivalent to the value of one gram of gold, is applicable for the seventh installment of the gold bond scheme 2021-22. The date of issuance for the seventh tranche is set as November 2, 2021. After the current series, the gold bond scheme will be available for subscription in three more tranches in the current fiscal.

Sovereign Gold Bonds 2021-22 Series VII: October 25-October 29; What You Need To Know

Issue Price

For the gold bond scheme 2021-22 series VII, the central bank has fixed an issue price of Rs 4,765 per unit –  equivalent to the value of one gram of gold.

The issue price of each tranche will be fixed in rupees- calculated on the basis of a simple average of the closing price of gold of 999 purity, by the Mumbai-based India Bullion and Jewellers Association (IBJA) for the last three working days of the week preceding the subscription period.

Discount For Online Subscribers

For those subscribers who are investing in the gold bonds scheme online – in which the payment is done through any of the digital methods, a discount of Rs 50 per unit is applicable, according to the Reserve Bank of India (RBI). For the online subscribers, the issue price is set at Rs 4,715 per gram of gold in the upcoming seventh tranche of sovereign gold bonds 2021-22 scheme.

Here’s what experts say-

”Gold prices have risen for two consecutive weeks. The rise in the yellow metal price is on account of tapering talks by the Fed. The concerns on how soon will global central banks unwind their liquidity measures. Any step towards liquidity will lead to a rise in interest rates,” said Mr. Nish Bhatt, Founder & CEO, Millwood Kane International.

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