December 9, 2015

First physical gold exchange to be launched in Mumbai

A bullion association in India is planning to launch the country’s first physical gold trading exchange, in an attempt to bring transparency to the market for the precious metal in the world’s second biggest consumer.

A dedicated physical gold exchange could lead to standard gold pricing in India, and could also bring transparency to a market which can involve large cash transactions.

The exchange, which will start with two to three delivery centres for gold and silver, will help the government to monitor gold trade, he said.

A physical exchange is likely to mean jewellers, retailers, refiners and banks can trade over a regulated platform.

No comments:

Post a Comment