Gold and silver futures starts trading under this name in BSE

Jun 02 2020 03:16 PM
Gold and silver futures starts trading under this name in BSE

The coronavirus has severely affected the Indian economy. Now the lockdown has been relaxed. In its effort to deliver new products to the commodity market participants and expand the market ecosystem, the Bombay Stock Exchange (BSE) on Monday launched goods contract options like Gold Mini and Silver Kilo. The exchange said in a statement that it has launched two contracts. The first of these is Gold Mini (100 gram) and the second is Silver Kilo. The contracts were launched by SK Mohanty, a full-time member of market regulator Sebi. Mohanty had emphasized that this is the right time to launch these contracts.

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In his statement, BSE MD and CEO Ashish Kumar Chauhan said, "These contractual options will enable small jewelers and retailers to come forward and reduce its risk on BSE's commodity platform." Through this option deals, futures traders will get oats to hedge their future prices. In this option the holder or buyer of the contract can buy or sell the goods to the other party at predetermined prices.

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The Chief Stock Officer of Bombay Stock Exchange, Sameer Patil said that these contracts are deliverable and the deals will be terminated with the physical delivery of the goods at the time of their expiry. The National Stock Exchange will launch the Gold Mini option on June 8.

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