The Reserve Bank of India has announced the issue of sovereign gold bonds for first half of the current financial year. In April and May, no sovereign gold bonds were announced due to elections. The June issue opening on Monday, June 3, is priced at Rs 3,196 per gram and those buying using net banking or cashless, will get discount of Rs 50 per gram as usual.
The issue closes on June 7. After that, bond issues will be announced every month till Sepember, with July 8-12, August 5-9 and September 9-13 as issue dates are dates. Monthly dates announced in the beginning to give investors a chance to buy gold under systematic investment plans.
All other details are as per past issues. The real concern, however, is timing. At the time of Akshaya Tritiya, on April 21, gold bonds were not available. Now gold prices are little higher and June-July are lean months for buying gold, due to which the response would depend upon consumers' approach and how banks market the bonds, said an industry executive.