Sovereign Gold Bond: The issue price of the eighth issue is set at Rs 4,791 per unit

Sovereign Gold Bond 2021-22 plan: The eighth batch of the government-run sovereign gold bond plan 2021-22 will be open for subscription on Monday, November 29, 2021. The eighth batch will be open to investors between November 29 and December 3 for a period of five days, according to that the Bank of India (RBI) has set a timetable for the 2021-22 gold bond plan. (Please also read: Gold Bond Series VII-X: Key Things to Know)

The issue price is 4,791 rupees per unit, which is equivalent to the value of one of gold and is applicable to the 2021-22 eighth gold bond plan. The issuance date of the current bond is set to December 7, 2021. After the current period, the current gold bond plan will be subscribed in two phases.

Interest-bearing gold bonds are a popular way to buy gold in non-physical form. Gold bonds are considered a safe bet for investment and are linked to the market price of precious metals.

Sovereign Gold Bond 2021-22 Series 8: November 29 to December 3; what you need to know

Issuance price

For the Gold Bond Program 2021-22 Series VIII, the central bank has set the issue price at 4,791 rupees per unit-equivalent to the value of one of gold.

The issue price for each batch will be in rupees-the Indian Bullion and Jewelers Association (IBJA) headquartered in Mumbai is calculated based on the simple average of the closing price of 999 pure gold, one week before the subscription period in the past three working days.

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Online subscriber discount

According to the Bank of India, for all subscribers who wish to invest in the gold bond program online-paying by any digital method, a discount of 50 rupees per unit is available. For online subscribers, in the upcoming 2021-22 eighth batch of sovereign gold bond plans, the issue price is set at 4,741 rupees per of gold.

What did the experts say——

“Worries about new virus variants have new concerns, leading to a weaker U.S. dollar and pushing up gold prices. However, improving economic conditions, global inflation levels, and possible interest rate hikes to curb inflation may put pressure on gold.

Mr. Nish Bhatt, the founder and CEO of Millwood, said that looking ahead, the Fed’s December meeting, interest rates, economic data and possible guidance from the dollar trend will guide the gold price of Kane International in the short to medium term.