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The Reserve Bank of India on Friday said the issue price of Series I of the Sovereign Gold Bond 2016-17 has been fixed at ₹3,119 a gram of gold. The rate has been fixed on the basis of simple average of closing price of gold of 999 purity for the week July 11 to 15, as published by the India Bullion and Jewellers Association. Series I of the Sovereign Gold Bond 2016-17 will be open for subscription from July 18 to 22.
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