NCDEX launches Gold Futures Contract

Published: May 22, 2015 09:02

Save

India’s National Commodity and Derivatives Exchange (NCDEX) today announced the launch of Gold Futures Contract.

Author: Paul Ploumis
21 May 2015 Last updated at 07:53:12 GMT
NEW DELHI (Scrap Monster): India’s National Commodity and Derivatives Exchange (NCDEX) today announced the launch of Gold Futures Contract, which is expected to bring more transparency and credibility into gold pricing in the country. The new Gold Futures Contract will be available for trade from May 21st (ie., today).

According to NCDEX press release, it has introduced a gold premium polling mechanism by an independent agency. The final settlement price of the gold futures contract will be arrived at by using the polled unbiased price benchmark. The mechanism enables consumers, jewellers, traders, banks and gold refiners to derive the final wholesale price through precise assessment of daily gold premiums in the physical market.

NCDEX will determine the daily premium or discount based on an independent, unbiased survey banks, traders and gold dealers in various cities across the country. The polled premium will connect the gold price in dollars per troy ounce with the wholesale value of kilobars in domestic Indian market. The calculated premium or discount will reflect the logistical cost and market fundamentals specific to India.

"With the new gold futures contract, we hope to bring much-needed clarity into the way gold is priced in the country,” said Samir Shah, MD and CEO, NCDEX. He further stated that the exchange will continue its efforts to boost information transparency in commodity markets by introducing highly innovative methods.

NCDEX is an online commodity exchange based in India. It provides commodity exchange platform for market participants to trade in commodity derivatives. It is the country’s only commodity exchange promoted by national institutions. NCEDX is regulated by the Forward Markets Commission (FMC).

NCDEX gold future contract commodities exchange samir shah premium discount precious metal bullion

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

3 hours ago

Data: SHFE, DCE market movement (Mar 03)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 03 Mar , 2026

3 hours ago

[SMM Tin Flash: The Most-Traded SHFE Tin Contract Hit the Down Limit, Now at 394,890 yuan/mt, Down 12%]

On the afternoon of March 3, the most-traded SHFE tin contract fell rapidly, hitting the 12% daily limit down near the close to settle at 394,890 yuan/mt. Recently, fading macro sentiment combined with rising expectations of an overseas supply recovery led to a swift unwinding of the sentiment premium previously injected by geopolitical conflicts. Market pessimism was released in a concentrated manner. Futures have remained weak since the night session yesterday, with losses continuing to widen during the day, ultimately hitting the limit down.

3 hours ago

4 hours ago

[SMM Tin Express: AI Inference Chips Open Market Space PCB Industry Chain Price Hikes May Continue]

Driven by robust demand for AI, the price hikes in the PCB circuit board industry chain continue. According to reports, Japanese semiconductor material giant Resonac has raised the prices of CCL copper clad laminate and adhesive films by 30% starting from March 1. The industry expects that Resonac's price increase will be passed on to high-end manufacturing processes such as MLCC, HDI boards, IC substrates, and high-frequency high-speed PCBs. Moreover, the PCB sector may see a super catalyst – Nvidia's LPU inference chip. The market believes that with the implementation and rapid growth of AI applications, the market for specialized AI inference chips will expand rapidly, bringing about a significant impact on the PCB industry including increased volume and prices, process upgrades, material innovations, and higher concentration. This will enhance the value and importance of PCBs in AI chips, opening up new market size opportunities for the PCB industry.

4 hours ago