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Commodity exchange NCDEX has set up a delivery centre here to cater to its recently launched market place, `Gold Now’
The platform facilitates purchase of recycled gold from the exchange accredited gold refineries online. ``At the moment our focus in business to business segment. After paying of a margin money of 5 per cent totally value gold will be delivered to the buyers from the newly-set up delivery centre in Hyderabad in two days after first transaction,’’ Suresh Devnani, Head of Business, NCDEC told newspersons here on Thursday.
The exchange had earlier opened delivery centres in Delhi, Ahmedabad and Chennai and is in the process of launching them in Mumbai and Jaipur soon, he said.
The price of gold, to be offered in one kg and 100 gram forward contracts, will be decided by the refineries on a daily basis and will be inclusive of value added tax.
The demand for gold in the country was 995 tonnes last year. About 25,000 tonnes of gold is held by Indian households, he said citing the World Gold Council data.
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