After a 41-year break, gold futures have been reintroduced
in India. The Ahmedabad based National Multi-Commodity Exchange
(NMCE) launched the contracts last week after recently gaining
regulatory approval. However, daily volumes have so far been
light at around 100 lots.
Nevertheless, brokers say the contract has strong potential,
arguing that a gold futures market was in existence until 1962
when the Gold Control Act came into force.
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