NCDEX to launch GOLDH100 tomorrow
Jan 20 2014 , Mumbai
The new innovative gold contract, available for trading from tomorrow, is being introduced keeping in mind the requirements of market participants who prefer to trade in contracts of smaller denominations, NCDEX said in a release.
"GOLDH100 is an addition to our basket to provide smaller and medium size jewellers and bullion traders an opportunity to enter the commodity market," NCDEX Managing Director and CEO Samir Shah said.
This new contract is designed as an intention-matching contract, where delivery occurs only when both buyer and seller agree in advance on the quantity and location.
There is also a substantial saving in initial outgo resulting from this method of price discovery.