Explorer

Jaitley unveils MCX's gold options contracts on Dhanteras

New Delhi [India], Oct. 17 (ANI): Multi Commodity Exchange of India Ltd. (MCX) launched India's first gold options contract on the occasion of Dhanteras. The commodity options trading with gold was unveiled by Union Finance Minister Arun Jaitley, here in New Delhi.

"It is a great beginning and I am sure this venture will be extremely useful and successful as far as the trade and the entire industry dealing in this subject (gold) is concerned," said Jaitley.

Up until now, SEBI only allows futures contracts for hedging in commodities. The launch of MCX's Gold 1 Kg futures contracts hedges all risks for those dealing in gold by giving them options for the future, according to the Finance Minister.

Jaitley also said that the government has been putting in consistent effort to formalize gold trade through policy formulation.

"The more it formalizes itself, the better it is for the consumers, jewellers, and for those trading in this."

Chairman, Economic Advisory Council, Bibek Debroy; Finance Secretary, Ashok Lavasa; and CEO, MCX, Mrugank M. Paranjape were also present for the event. (ANI)


This story has not been edited. It has been published as provided by ANI

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headline

Ukraine Talks Zelenskyy’s Peace Formula Implementation, India Remains Silent
Ukraine Talks Zelenskyy’s Peace Formula Implementation, India Remains Silent
'Have To Save Our Families': PM Modi Blasts DMK Over Drug Busts In TN, Says 'BJP Enough To Fight Menace'
PM Modi Blasts DMK Over Drug Busts In TN, Says 'BJP Enough To Fight Menace'
After I-T Mounts Heat On Cong, Rahul Hurls 'Tax Terrorism' Charge At BJP, Vows 'Exemplary Action'
After I-T Mounts Heat On Cong, Rahul Hurls 'Tax Terrorism' Charge At BJP, Vows 'Exemplary Action'
It's Kejriwal Today, Govt Will Jail Mamata, Stalin, Vijayan Tomorrow: Delhi Minister Atishi At ABP Shikhar Sammelan
It's Kejriwal Today, Govt Will Jail Mamata, Stalin, Vijayan Tomorrow: Delhi Minister Atishi
Advertisement
for smartphones
and tablets

Videos

Emotional Yet Fun Video Featuring Kapil Sharma, Tabu & Rhea Kapoor, Sharma To Star In 'Crew'ABP Shikhar Sammelan 2024: Anurag Thakur's counterattack to opposition over electoral bondsABP Shikhar Sammelan 2024: Why did BJP canceled tickets of more than 100 sitting MP's?|Anurag ThakurABP Shikhar Sammelan 2024: Anurag Thakur's gets angry on TMC-Congress over remarks on Kangana Ranaut

Photogallery

Embed widget