India gets gold futures again

13 Oct 2003

After a 41-year break, gold futures have been reintroduced in India. The Ahmedabad based National Multi-Commodity Exchange (NMCE) launched the contracts last week after recently gaining regulatory approval. However, daily volumes have so far been light at around 100 lots.

Nevertheless, brokers say the contract has strong potential, arguing that a gold futures market was in existence until 1962 when the Gold Control...

The rest of this article is for subscribers only. Would you like to take a free trial?

Unlimited access
Data & graph exports
Daily data brief
Weekly newsletter

News & Analysis access
Extensive data searches
Access to archive
Weekly newsletter

Already have an account?

Username:
Password:

Remember me? | Forgot your password?

“A lot of banks have spent a lot of money calculating the cheapest way to collateralise their positions, and they’ve hired some very bright mathematicians to do it. Why would they gamble all of that by using the cheapest clearing house?”

Senior rates players believe fears of a race to the bottom among clearing houses has been overstated.