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The National Commodities & Derivatives Exchange (NCDEX) has launched a Chennai delivery centre for Gold Now, an online market for buying and selling gold.
Initially, this is a business-to-business initiative which will benefit jewellers, bullion dealers and merchants who can get quotes from exchange-approved refiners who will offer the contracts.
Soon it will also be extended to retail buyers.
Gold Now will offer bullion in 1 kg and 100 gram forward contracts with daily delivery through T+1 – trade today and deliver next day – or T+2 – trade today, deliver the day after tomorrow.
Addressing media persons on the launch of the Chennai delivery centre, Suresh Devnani, Head-Business, NCDEX, said the Delhi delivery centre was launched last week.
Delivery centres will also soon be available in Ahemdabad, Mumbai, Kochi and Hyderabad, he said.
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