Gold News

NCDEX mulls gold futures expansion

India's National Commodity and Derivatives Exchange (NCDEX) is considering ways of boosting its market share in gold futures to 25 per cent, according to reports.

The exchange has already undertaken measures to attract retail investors to gold futures by introducing a new gold 100gm trading lot futures contract, the Press Trust of India says.

Now the NCDEX wants to expand further to take advantage of the current prominence of the yellow metal in today's investment activity.

"Bullion is hot today and we are looking at a decent market share of 20 to 25 per cent," PH Ravikumar, managing director and chief executive of the NCDEX, commented.

The news follows the opening of the Shanghai Futures Exchange for gold futures trading last week, after receiving approval for opening on September 11th last year.

A strong start was experienced by traders on January 9th, with prices reaching the daily cap before declining, according to the Shanghai Daily.


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