As reported in a leading Indian daily, the National Multi Commodity Exchange of India (NMCE), has begun trading in gold guinea contract and has joined hands with the Muthoot Group, for the delivery of the gold items. The association with the Muthoot Group will set up multiple delivery centres across India, to deliver gold items including gold guinea, coins and bars, reports add. Every guinea would carry a Muthoot branding with BIS certification, a serial number and will be packed in tamper proof packaging.
The NMCE is the first commodity exchange of the country, primarily dealing in agro commodities. It launched the gold guinea at Kochi and presently receives 20 per cent of its volumes through gold and bullion trade.
The transaction including purchase/delivery of the gold guinea will take place through the 22 Muthoot Finance centres in India.