India Bullion Exchange

India is among the biggest economies in the world and is now joining the league of global financial centres like the United States, the United Kingdom and Singapore, Prime Minister Narendra Modi said on Friday.

Prime Minister Narendra Modi will launch several projects including the country's first international bullion exchange during his two-day Gujarat visit starting July 28.

Gold prices today: Yellow metal rates on Thursday fell by Rs 154 to Rs 52,474 per 10 grams on the multi commodity exchange

India's National Stock Exchange (NSE) said on Saturday it planned to set up a new domestic spot gold exchange that would bring more efficiency and transparency to bullion pricing.

Termed as the gateway for bullion imports into India, all the bullion imports for domestic consumption shall be channelised through the exchange.

"MCX iCOMDEX Bullion Index Futures contracts, expiring September, October and November, will be available for trading with effect from August 24," the commodity exchange had said in a circular last weekend.

A leading bullion association in India is offering free membership to jewellers across cities and small towns ahead of a planned launch of the country's first physical gold exchange, a move aimed at standardising prices and improving transparency.

A bullion association in India has tied up with BSE, the country's oldest stock exchange, to launch the nation's first physical gold trading exchange.

Mumbai-based India Bullion and Jewellers Association (IBJA), a group consisting of gold dealers, traders and jewellers is planning to launch the country's first physical gold trading exchange, in an attempt to bring transparency to the market for the precious metal in the world's second biggest consumer.

According to the FMC, the turnover from bullion declined 9.20 per cent to Rs 5.61 lakh crore in April-July 15 of the 2015-16 fiscal, as against Rs 6.18 lakh crore in the corresponding period last fiscal.

At the Multi Commodity Exchange, gold for delivery in far-month October contracts traded at Rs 131, or 0.47 per cent, to Rs 27,980 per 10 gram with a business turnover of 8 lots.

Gold imports in India, the world's biggest consumer of the precious metal, are expected to pick up and touch 725 tonnes this fiscal year, according to the latest report by a top industry body.

The National Spot Exchange Ltd (NSEL) affair got murkier on Monday as the Forward Markets Commission (FMC) cast doubts on its management and charged that the crisis-ridden bourse is not complying with its directions and providing wrong information in the case involving Rs 5,600 crore dues to investors.

The government is mulling conducting an audit of National Spot Exchange Ltds physical stocks lying in warehouses by own agencies as it fears defaults in payment by buyers, a top Consumer Affairs Ministry official said on Monday.

Crisis-ridden National Spot Exchange Ltd (NSEL) has proposed to initiate default proceedings against Lotus Refineries saying that it owes Rs 252 crore to investors, a claim the company has disputed.

India is among the biggest economies in the world and is now joining the league of global financial centres like the United States, the United Kingdom and Singapore, Prime Minister Narendra Modi said on Friday.

Prime Minister Narendra Modi will launch several projects including the country's first international bullion exchange during his two-day Gujarat visit starting July 28.

Gold prices today: Yellow metal rates on Thursday fell by Rs 154 to Rs 52,474 per 10 grams on the multi commodity exchange

India's National Stock Exchange (NSE) said on Saturday it planned to set up a new domestic spot gold exchange that would bring more efficiency and transparency to bullion pricing.

Termed as the gateway for bullion imports into India, all the bullion imports for domestic consumption shall be channelised through the exchange.

"MCX iCOMDEX Bullion Index Futures contracts, expiring September, October and November, will be available for trading with effect from August 24," the commodity exchange had said in a circular last weekend.

A leading bullion association in India is offering free membership to jewellers across cities and small towns ahead of a planned launch of the country's first physical gold exchange, a move aimed at standardising prices and improving transparency.

A bullion association in India has tied up with BSE, the country's oldest stock exchange, to launch the nation's first physical gold trading exchange.

Mumbai-based India Bullion and Jewellers Association (IBJA), a group consisting of gold dealers, traders and jewellers is planning to launch the country's first physical gold trading exchange, in an attempt to bring transparency to the market for the precious metal in the world's second biggest consumer.

According to the FMC, the turnover from bullion declined 9.20 per cent to Rs 5.61 lakh crore in April-July 15 of the 2015-16 fiscal, as against Rs 6.18 lakh crore in the corresponding period last fiscal.

At the Multi Commodity Exchange, gold for delivery in far-month October contracts traded at Rs 131, or 0.47 per cent, to Rs 27,980 per 10 gram with a business turnover of 8 lots.

Gold imports in India, the world's biggest consumer of the precious metal, are expected to pick up and touch 725 tonnes this fiscal year, according to the latest report by a top industry body.

The National Spot Exchange Ltd (NSEL) affair got murkier on Monday as the Forward Markets Commission (FMC) cast doubts on its management and charged that the crisis-ridden bourse is not complying with its directions and providing wrong information in the case involving Rs 5,600 crore dues to investors.

The government is mulling conducting an audit of National Spot Exchange Ltds physical stocks lying in warehouses by own agencies as it fears defaults in payment by buyers, a top Consumer Affairs Ministry official said on Monday.

Crisis-ridden National Spot Exchange Ltd (NSEL) has proposed to initiate default proceedings against Lotus Refineries saying that it owes Rs 252 crore to investors, a claim the company has disputed.