The latest tranche of the sovereign gold bond scheme 2019-20 will open for subscription on Monday amid rising gold prices. The sovereign gold bonds are government securities denominated in grams of gold and they are issued by the RBI. Gold prices today traded flat following negative sentiment in global markets. Here is all you need to know about the Sovereign Gold Bond Scheme 2019-20—Series V.
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The sovereign gold bond scheme will be opened for subscription from October 7 to October 11 at an issue price of Rs 3,788 per gram.
* The government has decided to offer a discount of Rs 50 per gram for investors applying online and making payment for the purchase of the bond through digital mode.
* Under the scheme, bonds are denominated in units of one gram of gold and multiples thereof.
* Minimum investment in the bonds is one gram with a maximum limit of subscription of 500 gram per person per fiscal year (April-March).
* The maximum limit of subscription is 4 kg for Hindu Undivided Family (HUF) and 20 kg for trusts and similar entities per fiscal.
* On the Multi Commodity Exchange, gold contracts for December delivery traded unchanged at Rs 38,343 per 10 gram.
* The sovereign gold bond scheme was launched in November 2015 with an objective of reducing demand for physical gold and shifting a part of domestic savings, used for purchase of the yellow metal, into financial savings.
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