New Delhi: The issue price of Sovereign Gold Bonds 2019-20 (Series III) has been fixed at Rs 3,499 per gram of gold, the finance ministry said in a statement on Friday.
The Bonds will be open for subscription on August 5 and close on August 9.
"The issue price of the Bond during this subscription period shall be Rs 3,499 per gram with settlement date August 14, 2019..." it said.
It further said the government in consultation with the Reserve Bank of India 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 the gold bond will be Rs 3,449 per gram of gold.
The sovereign gold bond scheme was launched in November 2015 with an objective to reduce the demand for physical gold and shift a part of the domestic savings -- used for the purchase of gold -- into financial savings.