MCX launches globally linked gold contract

Multi-Commodity Exchange of India (MCX) is launching an innovative future contract in bullion -- Gold Global on Tuesday with price quote purely linked with global markets.

Exclusive of all additional levies in India including import premium, customs duty, sales tax and domestic market premium among, gold price under this contract would reflect prevailing global prices.

This contract would help bullion dealers and jewellers to hedge their risk in global and Indian market simultaneously.