The Hindu Business Line : NCDEX focus on bullion pays off

Mumbai, Aug. 2 National Commodity and Derivatives Exchange’s (NCDEX) renewed focus on bullion seems to have paid off. Its gold trading volume in the last four months has more than doubled to Rs 8,747 crore. Silver volumes too have moved up marginally from Rs 1,929 crore in April to Rs 2,015 crore in July.

The gold volume reached Rs 8,747 crore during the April-July period. Bullion volumes including silver zoomed 85.44 per cent to Rs 10,761 crore.

“In the last few months we have been concentrating on boosting our bullion and energy businesses and made a few changes in gold contract specifications which had resulted in improved investor participation,” said Mr Shrikhant Subbrayan, head of products, NCDEX.

Recently, the exchange introduced a staggered delivery system to improve deliveries. “The delivery period was extended to six days from one day. Investors are free to make deliveries on all the six days, which has improved the participation of genuine consumers and traders,” he added.

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