Reserve Bank of India’s gold bond nominal value at Rs. 2,971 per gram

By Wendy Van Sickle

Columbus, Ohio, Oct. 20 – The Reserve Bank of India said subscriptions for its sovereign gold bonds continue to be open every Monday through Wednesday through Dec. 27.

For the subscription period from Oct. 23 through Oct. 25, the nominal value of the bond – based on the simple average closing price published by the India Bullion and Jewelers Association Ltd. for gold of 999 purity on Oct. 17, Oct. 18 and Oct. 20 – is Rs. 2,971 per gram.

Settlement will be made on the first business day of the next week after each subscription period – Oct. 30 for the coming subscription period, according to a notice.

A discount of Rs. 50 per gram is being offered to investors who apply and make their payment electronically. For those investors, the issue price will be Rs. 2,921.

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