Sovereign Gold Bonds 2020-21 will be issued by RBI on behalf of the Government of India.
ETCDs having gold as the underlying asset would be considered as 'gold-related instrument' for gold ETFs.
Cuts have been due to taper to 7.7 million bpd from July to December.
US West Texas Intermediate (WTI) crude futures rose $1.65, or 4.4 per cent, to $39.02 a barrel.
US gold futures fell 2.8 per cent to $1,678.40.
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