The National Commodity & Derivatives Exchange (NCDEX) has received an encouraging response from investors to its gold contract just been launched.
Gold Hedge contract obtained a volume of 1,300 kg worth Rs 322.3 million rupees in the first two trading days (January 16-17), said that the Exchange.
According to the Exchange, GoldHedge aims to give a clear and direct price of the yellow metal consumer reference.
“Our product is the perfect solution to price distortion created by fluctuating supply and demand Terms of and it takes forward the mission of the RBI-completion gold for reducing the burden of imports in the current account deficit” Managing Director and CEO Samir Shah NCDEX had said on the eve of launch of the contract.
Reported News Source: PTI Economic Times