RBI fixes gold bonds issue price at Rs 2,684 per gram

◙Reserve Bank has fixed the public issue price at Rs 2,684 per gram for the sovereign gold bonds, for which applications will be accepted from 5 to 20 November.

◙Aimed at providing an alternative to buying physical gold, the gold bond scheme will offer investors an interest rate of 2.75 percent and a choice to buy bonds worth 2 grams of gold, up to a maximum of 500 grams.

◙"The issue price of the sovereign gold bond for this tranche has been fixed at Rs 2,684 per gram of gold," the RBI said in a statement today.

◙The rate has been fixed on the basis of simple average of closing price for gold of 999 purity of the previous week (26-30 October, 2015) published by the India Bullion and Jewellers Association Ltd (IBJA), the RBI added.

◙The bonds, which will be sold through banks and designated post

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