"Every ounce of gold traded in the country can now use our new reference price that is free from distortion and ambiguity. GodlHedge is a new way to discover the price of gold. It is the right benchmark for the market where gold touches every household and every pocket." NCDEX Managing Director and CEO Samir Shah said in a statement.
"Our product is the perfect solution to the distortion in prices created by fluctuating demand-supply conditions and takes forward the RBI's mission of finalisation of gold to reduce the burden of imports on the current account deficit," Shah said.