Commodities

BSE signs pact with Patna jewellers body to strengthen bullion trade

Our Bureau Mumbai | Updated on December 29, 2020

BSE has signed a Memorandum of Understanding with bullion trade and industry association Patliputra Sarafa Sangh, Patna, Bihar.

The association would enable value chain participants manage price risks better. Patliputra Sarafa Sangh would assist BSE’s initiatives to deepen the understanding of commodity market among stakeholders and work together for designing new products on ‘Precious Metals’ commodities contract.

BSE has executed deliveries of gold worth over ₹8 crore at the exchange-designated vault in Ahmedabad, Gujarat.

Sameer Patil, CBO, BSE, said the association would enable more participants to hedge on the exchange and build a deep physical network needed in bullion trade.

Binod Kumar, President, Patliputra Sarafa Sangh, said small jewellers will benefit and learn to hedge gold price risk and navigate through volatile prices safely.

Published on December 29, 2020

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