New Delhi: India International Exchange (India INX), an arm of BSE, on Wednesday said India's leading gold refiner, which produces 20 per cent of the country's gold, has started gold futures trading on its platform.
This shows that India INX, located in GIFT City (Gujarat International Finance Tech-City), is becoming the main venue for Indian jewelers and gold importers to hedge against gold price risks.
"Today, one of India's top gold refineries, which produces 2 per cent of the country's 15 per cent gold, launched gold futures trading to hedge against gold price fluctuations," India INX said in a statement. Is done."
However, the exchange did not disclose the name of the refiner.
In December 2022, the Reserve Bank of India (RBI) allowed Indian companies (except individuals) to manage their gold price exposure on an exchange recognized within the International Financial Services Center (IFSC). The move provides more options for Indian companies to hedge against gold price volatility through India INX.
This shows that India INX, located in GIFT City (Gujarat International Finance Tech-City), is becoming the main venue for Indian jewelers and gold importers to hedge against gold price risks.
"Today, one of India's top gold refineries, which produces 2 per cent of the country's 15 per cent gold, launched gold futures trading to hedge against gold price fluctuations," India INX said in a statement. Is done."
However, the exchange did not disclose the name of the refiner.
In December 2022, the Reserve Bank of India (RBI) allowed Indian companies (except individuals) to manage their gold price exposure on an exchange recognized within the International Financial Services Center (IFSC). The move provides more options for Indian companies to hedge against gold price volatility through India INX.
