Published on 1/07/2017 12:24:30 PM | Source: India INX Ltd

India INX clocks a new high in Gold Contract

Posted in Expert Views | #Expert Views #India INX Ltd


Mumbai, June 30, 2017: India International Exchange (INX), the wholly owned subsidiary of BSE Ltd, reported a new high in turnover of USD 44.76 million (INR 290.94 crores) and crossed 1000 contract in Gold on 29th June 2017.  

Speaking on the development, MD & CEO of India INX Shri. V Balasubramaniam said, “We have seen enthusiastic participation in our Gold contracts. The total turnover of Gold contracts has reached USD 351.46 million with a cumulative open interest of 963 contracts in June 2017.  

“The gold prices declined by around 4.68 percent and were quite volatile in June. There were major factors globally – especially comments by central banks – that led to this volatility. In line with the increase in volumes of gold contracts in major exchanges globally, even India INX witnessed a boost.”    

The India INX was launched with index and equity futures in January this year. Along with Index contracts, gold contract at India INX has gained momentum and attracted larger and wider participation as the impact cost of gold contracts at India INX is low as compared to other major global exchanges.  

As many as 84 trading members have taken approval from the SEZ authority to start trading on India INX.

 

Above views are of the author and not of the website kindly read disclaimer