The Reserve Bank of India on Friday announced dates for subscribing to the next Sovereign Gold Bond.
The Series IV 2021-22 Gold Bond will open for subscriptions from July 12-16 2021.
Subscriptions can be made from scheduled commercial banks and exchanges such as Bombay Stock Exchange and the National Stock Exchange.
The subscription price is based on the simple average closing price held between 7th July - 9th July which works out to Rs 4,807 per gram.
The price is for 999 purity Gold and fixed on the basis of rates calculated by the All India Bullion Jewellers Association.
Paying for the subscription by digital modes will fetch a Rs 50 per gram discount.
"The price for the yellow metal has been on an up move for the past 3 weeks as US Treasury yields dropped to a 4-month low due to concerns related to the virus. The next big trigger for gold prices will be the Fed meeting later this month, rising inflation in the US is a cause of concern and any change in the stance on interest rates or liquidity by the Fed will have its impact on the prices," said Nish Bhatt, Founder & CEO at Millwood Kane International, an investment consulting firm.
"The latest variant of the virus has created uncertainties, rise in the number of cases. Moving forward the ability to control the virus by large countries, the pace of vaccination, global economic recovery, and the rising inflation will guide gold prices," Bhatt added.
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