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The issuance of the Sovereign Gold Bonds 2016 – Series I

The issuance of the Sovereign Gold Bonds 2016 – Series I


Update:

The Sovereign Gold Bonds series I issued on August 05, 2016 and held in dematerialised form shall be eligible for trading on Thursday, September 01, 2016 on the stock exchanges recognised by the Government of India under the Securities Contracts (Regulation) Act, 1956.

The issuance of the Sovereign Gold Bonds 2016 – Series I (“the Bonds”) is issued by theGovernmenton July 14, 2016. The Bonds will be open for subscription from July 18, 2016, to July 22, 2016.The date of issuance of the bond will be on August 5, 2016.  The price of the Bonds shall be fixed in Indian Rupees on the basis of the simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Limited for the week (Monday to Friday) preceding the subscription period.
The notification says that the Government of India may, with prior notice, close the Scheme before the specified period.

The issue price of the Sovereign Gold Bond has been fixed at Rs. 3119/- (Rupees Three Thousand One Hundred and Nineteen only) per gram of gold. The rate has been fixed on the basis of the simple average of closing price of gold of 999 purity for the week July 11 to 15, 2016 as published by the India Bullion and Jewellers Association Ltd. (IBJA).

Please click below to know the terms and conditions of the issuance of the BonThe issuance of the Sovereign Gold Bonds 2016 – Series I

http://www.bankingschool.co.in/investments-insurance/advantage-of-sovereign-gold-bond-over-physical-form-of-gold/

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