Sovereign Gold Bonds: The issue price is set at ₹ 4,791 per unit in the eighth tranche
Sovereign Gold Bond 2021-22 Scheme: The eighth tranche of the government-run sovereign gold bond scheme 2021-22 opens for subscription on Monday, November 29, 2021. The eighth series will be open for investors between November 29 - December 3 - 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). (Also Read: Gold Bond Series VII-X: Key Things To Know )
An issue price of Rs 4,791 per unit, equivalent to the value of one gram of gold, is applicable for the eighth installment of the gold bond scheme 2021-22. The date of issuance for the tranche is set as December 7, 2021. After the current series, the gold bond scheme will be available for subscription in two more tranches in the current fiscal.
The interest-paying gold bonds are a popular means to purchase the yellow metal in a non-physical form. Gold bonds are considered to be a safe bet for investment and are linked to the market price of the precious metal.
Sovereign Gold Bonds 2021-22 Series VIII: November 29-December 3; What You Need To Know
For the gold bond scheme 2021-22 series VIII, the central bank has fixed an issue price of Rs 4,791 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 Rs 50 per unit is applicable, according to the Reserve Bank of India. For the online subscribers, the issue price is set at Rs 4,741 per gram of gold in the upcoming eighth tranche of sovereign gold bonds 2021-22 scheme.
What experts say-
''The fears surrounding the new variant of virus has raised fresh concerns, leading to a softness in USD, pushing gold prices higher. But the improving economic scenario, inflation levels around the world, likely rate hikes to contain inflation is likely put pressure on gold.
Moving forward, the US Fed meeting in December, the likely guidance on rates, economic data, and movement of the dollar will guide prices of gold in the near to mid-term,'' said Mr. Nish Bhatt, Founder & CEO, Millwood Kane International.