Series 4 of sovereign gold bond scheme to open on July 6

The Sovereign Gold Bonds 2020-21 (series 4) will be open from July 6 to 10 with a settlement date as July 14, the government said on Saturday.

The issue price of the bond during the subscription period will be Rs 4,852 per gram.

In consultation with the Reserve Bank of India, the government has decided to allow a discount of Rs 50 per gram from the issue price to those investors who apply online and the payment is made through digital mode.

For such investors, the issue price of gold bond will be Rs 4,802 per gram of gold, according to an official statement.

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.

( With inputs from ANI )