NEW DELHI:  The issue price for the Sovereign Gold Bond has been fixed at Rs 4,852 per gram of gold, the Reserve Bank of India said in a statement on Friday.

The Sovereign Gold Bond Scheme 2020-21-Series IV will be opened for subscription for the period between July 6 and July 10.

The central bank in April had announced that the government will issue Sovereign Gold Bonds (SGBs) in six tranches beginning April 20 till September. Sovereign Gold Bond 2020-21 will be issued by RBI on behalf of the Government of India.

“The nominal value of the bond based on the simple average closing price (published by the India Bullion and Jewellers Association) for gold of 999 purity of the last three working days of the week preceding the subscription period...works out to Rs 4,852 per gram of gold,” the RBI said.

It also said it has been decided by the Government and the RBI to offer a discount of Rs 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode.