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Sovereign gold bond issue opens for subscription

Aug 31, 2020 13:14 IST

The sixth tranche of the sovereign gold bond (SGB) scheme 2020-21 opened for subscription on Monday, and is priced at ₹5,117 per gram. The issue price for the 'series five' bonds was ₹5,334 per gram.

The minimum permissible investment will be 1 gram of gold and the maximum limit of subscription shall be 4 kg for an individual. SGBs come with a coupon rate of 2.5% and a maturity period of eight years, with a lock-in period of five years.

Analysts are upbeat on the prospects of gold prices in light of the current economic situation as the coronavirus impact continues to linger. A few, however, have expressed concerns over the lock-in period.