Trading in commodities derivatives including gold was launched at India INX in Gujarat's Gift City on April 13.
"With increase in volatility on Thursday the trading volume of India INX gold crossed the USD 24.15 million mark for the first time," India INX said in a statement today.
"The Federal Reserve raised US interest rates by 0.25 per cent, in June FOMC (Federal Open Market Committee) meeting. The FOMC statement also said US inflationary pressures have eased a bit recently. After digesting the FOMC statement, the marketplace deemed this Fed meeting as more hawkish on US monetary policy," India INX said.
The India INX was launched with index and equity futures in January this year.
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"Along with Index contracts, gold contract at India INX has gained momentum and attracted larger and wider participation as the impact cost of gold contracts at India INX is low as compared to other major global exchanges," the exchange said.
India INX is the first international exchange to become operational at the International Financial Service Centre at the Gift City in Ahmedabad.
The exchange has been one of the most advanced technology platforms with a turnaround time of 4 micro seconds. It operates 22 hours, five days a week, to allow global investors and NRIs to trade.