(Harleen Kaur, Intern Journalist) Buying gold during Dhanteras and Diwali is considered very auspicious. Every family in India has a tradition of purchasing gold but on a very small scale during this festive season. Many people buy gold in terms of investment. Meanwhile, the eighth series of the Sovereign Gold Bond Scheme will open for subscription on November 9. This bond can be invested till November 13. The price of gold for this gold bond has been fixed at Rs 5,177 per gram. The Reserve Bank of India released a statement on Friday and informed about this.
The statement issued by the RBI said, “The nominal value of the bond has been fixed at Rs. 5,177 per gram, based on the simple average of the closing price published by the India Bullion and Jewelers Association of 999 quality gold.”
The central bank has said that the government has decided to give a rebate of Rs 50 per gram to those applying online for this bond and paying through digital means.
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