India's NCDEX to launch gold coin contracts

Contracts will pertain to 8 gram gold coins
India's NCDEX to launch gold coin contracts

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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