The Reserve Bank of India (RBI) has said he issue price for the Sovereign Gold Bond (SGB) Scheme 2020-21-Series VII, which will be for subscription from October 12 to October 16, has been fixed at Rs 5,051 per gram of gold.

The issue price for the SGB Scheme Series VI, which opened for subscription from August 31 to September 4, was Rs 5,117 per gram of gold. The SGB Scheme 2020-21 Series VIII will open for subscription from November 9 to November 13. The issue price will be announced a few days before the subscription opens.

“The nominal value of the bond based on the simple average closing price for gold of 999 purity of the last three business days of the week preceding the subscription period…works out to Rs 5,051 per gram of gold,” the RBI said.

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