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Precious Metals January 13, 2014 03:30:13 AM

NCDEX to instigate Gold Futures Contracts effective Jan 16

Paul Ploumis
ScrapMonster Author
India's popular commodity futures exchange, National Commodity and Derivatives Exchange (NCDEX) has announced the launch of Gold Futures Contract

NCDEX to instigate Gold Futures Contracts effective Jan 16

NEW DELHI (Scrap Monster) : India’s popular commodity futures exchange, National Commodity and Derivatives Exchange (NCDEX) has announced the launch of Gold Futures Contract. It will be available for trading on the exchange platform from January 16, 2014. According to the Vice President of NCDEX, Mr. Suresh Devanami the contract aims in offering excellent opportunity for its participants to carry out investment-hedging. He further added that the new proposal has been designed as a platform that offers better service adhered to the convenience of their valued participants.

NCDEX had recently (January 2) launched its cotton seeds future contract which gained amazing response from investors and cotton stakeholders. The new proposal on Gold Futures Contract is also anticipated to receive great response after its introduction on the exchange this Thursday.

NCDEX has begun the process to initiate settlement of futures contract through the user-friendly website application – COMTRAC. NCDEX has issued a circular announcing that all the Gold Futures contracts expiring in March 2014 and thereafter will be settled through COMTRAC only. Participants to trading on Gold on NCDEX requires to open commodity account in COMTRAC.

NCDEX is the second biggest commodity bourse in India offering e-trading in a wide array of products including agriculture, metals and precious metals.

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