The gold bond scheme, which is issued by the RBI on behalf of the government, is only available to residents, HUFs, Trusts, Universities, and Charitable Institutions. The Reserve Bank of India (RBI) will open subscriptions for the Sovereign Gold Bond (SGB) Scheme 2022-23 – Series IV from March 6-10. The central bank stated in a statement that the subscription value has been set at $5,611 per gramme of gold. It will, however, offer a discount of $50 per gramme less than the nominal value to investors who choose a digital mode of payment. “For such investors (who choose digital), the issue price of the Gold Bond will be 5,561- per gramme of gold,” according to the statement.
The RBI clarified the subscription price in a statement dated March 3, saying, “The nominal value of the bond is 5,611/ based on the simple average of closing prices [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three working days of the week preceding the subscription period, i.e. March 01, March 02, and March 03, 2023.”