Sovereign Gold Bond 2021-22 Scheme: According to the RBI, an issue price of ₹ 4,786 per unit, equivalent to the value of one gram of gold, is applicable for the ninth installment
Your MoneyEdited by Nikita PrasadUpdated: January 08, 2022 7:11 pm IST
Sovereign Gold Bond 2021-22 Scheme: The ninth tranche of the government-run sovereign gold bond scheme 2021-22 opens for subscription on Monday, January 10, 2022. The ninth series will be open for investors between January 10 – January 14 – 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).
An issue price of ₹ 4,786 per unit, equivalent to the value of one gram of gold, is applicable for the ninth installment of the gold bond scheme 2021-22. The date of issuance for the tranche is set as January 18, 2022. After the current series, the gold bond scheme will be available for one more tranche in the current fiscal.
Gold bonds are linked to the market price of the precious metal. The interest-paying bonds are a popular means to purchase the precious metal in a non-physical form. Investors will be compensated at a fixed rate of 2.50 percent per annum payable semi-annually on the nominal value, as per the RBI.
Sovereign Gold Bonds 2021-22 Series IX: January 10 – January 14; What You Need To Know
Issue Price
For the gold bond scheme 2021-22 series VIII, the central bank has fixed an issue price of ₹ 4,786 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 all those subscribers who are looking to invest in the gold bonds scheme online – in which the payment is done through any of the digital methods, a discount of ₹ 50 per unit is applicable, according to the central bank. For the online subscribers, the issue price is set at ₹ 4,73 per gram of gold in the upcoming ninth tranche of sovereign gold bonds 2021-22 scheme.
What experts say-
”Currently, gold prices are trading near a two-month low. Gold prices are almost ₹ 9000/10 gm down from their peak witnessed in 2020. The weakness is mainly due to the minutes of the US Fed that indicated a faster rate hike and also a reduction in bond buying than earlier estimated.
Going forward, the pace at which the global central banks will unwind their monetary position, movement of the US dollar will guide gold prices in the year 2022,” said Mr. Nish Bhatt, Founder & CEO, Millwood Kane International.