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India's NCDEX to launch gold coin contracts
Contracts will pertain to 8 gram gold coins
By: Diamond World News Service
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Mar 30 2008 12:55AM
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Reference: 2445  

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India’s online multi commodity exchange, namely, the National Commodity and Derivatives Exchange Ltd. (NCDEX) is soon expected to launch gold coin contracts, reports Reuters.

The Forward Markets Commission, India’s futures market regulator, had given its consent to NCDEX, to launch its 8 gram gold coins contract from June to December this year. The plans for such contracts have been in the pipeline with the exchange since long, but took time to materialse due to the lack of a sound physical delivery mechanism. Presently government regulatory approvals are awaited.

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