How is the issue price of Sovereign Gold Bonds determined?

(a) Based on the current market price of gold
(b) Based on the average price of gold for the last three months
(c) Based on the closing price of gold on the date of issuance
(d) Based on the average price of gold for the last three working days preceding the subscription period

Ans.(d)
Sol. Based on the average price of gold for the last three working days preceding the subscription period. The issue price of SGBs is fixed in Indian rupees based on the simple average of the closing price of gold with 999 purity for the specified period.