NCDEX, the leading national commodity exchange, has launched a new national market for gold. The ‘Gold Now’ platform is the first transparent and convenient online market for buying and selling gold. The platform will accept gold recycled in exchange-approved refineries as Good Delivery. This is intended to reduce the dependence on imports.
The Gold Now platform will provide an impetus to the domestic recycling industry, which at present consists of 17 refineries. After a year-long exhaustive and meticulous accreditation process which was designed and conducted by three leading experts of international repute, the Exchange has approved four domestic refineries as Good Delivery on the Gold Now platform.
Gold Now will offer bullion in 1-kg and 100-gram forward contracts for six centers with daily delivery facility through T+1 and T+2 settlement system. The cities where delivery will be available include Ahmedabad, Mumbai, Delhi, Kochi, Hyderabad and Chennai.