The Hindu Business Line : Gold, silver futures for retail investors

The National Commodity & Derivatives Exchange (NCDEX) on Tuesday launched new gold contract for 100 gm and silver contract for 5 kg. The contracts are designed to attract retail investors. The exchange currently trades in gold contract for 1 kg and silver contract for 30 kg which has a margin requirement of approximately Rs 45,710 (5 %) in gold and Rs. 40,000 (7%) in silver at current market prices. In the case of the new contracts, retail investors can trade with margin requirements of Rs 4,571 in the case of gold and of Rs. 6,700 in the case of silver. The gold will be received and delivered only from NCDEX accredited vaults. The new contracts will meet the much-required need of quality assurance, according to Mr P.H. Ravikumar, MD and CEO, NCDEX. The advantages for investors in the new bullion futures contracts on NCDEX include the ability to hold gold in the demat form at a low cost, assurance of quality, and ability to buy and sell easily.

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