1. Gold bond 4th tranche price set at Rs 3119 per gram of gold

Gold bond 4th tranche price set at Rs 3119 per gram of gold

The issue price of the fourth tranche of Sovereign Gold Bond has been fixed at Rs 3,119 per gram of gold.

By: | Updated: July 18, 2016 2:02 PM

Gold Bond Scheme price

The issue price of the fourth tranche of Sovereign Gold Bond has been fixed at Rs 3,119 per gram of gold. In effect, the price works out to Rs 31,190 for 10 grams, which is the standard measure of quoting gold price in India.

The issue price of the fourth tranche of Sovereign Gold Bond has been fixed at Rs 3,119 per gram of gold. In effect, the price works out to Rs 31,190 for 10 grams, which is the standard measure of quoting gold price in India.

The price has been determined by the Reserve Bank of India as per the scheme’s stipulation according to which it would be fixed in Indian Rupees calculated on simple average price for gold of 999 purity as put out by the India Bullion and Jewellers’ Association Ltd. (IBJA) for the week (Monday- Friday) before the bond issue is announced.

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According to IBJA figures, Indian gold 999 purity closed at Rs 31,370 per 10 grams on Monday July 11 while the closing on Friday, July 15 was Rs 31,085.

Gold has given solid returns during the year with the price of the metal on January 1, 2016, being around Rs 25,000, thereby appreciating over 23 per cent. Market experts believe the yellow metal still has steam left in it and could move higher due to global uncertainties.

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