Govt fixes sovereign gold bond rate at ~2,890/gram

The government has fixed ~2,890 per gram as price of new series of sovereign gold bonds (SGBs) opening on Monday. The government, in consultation with the Reserve Bank of India, has decided to offer a discount of ~50 per gram to investors applying online and making payments digitally. “For the next subscription period, December 11-13 of the Series-III of GGBs 2017-18, the issue price shall be ~2,890 per gram with settlement on December 18,” a finance ministry statement said on Friday. The issue price will be ~2,840 a gram for investors applying online and the payment through digital mode. The current round of bonds is part of the SGB calender announced till December and is spread over 12 weeks. PTI<