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BIS notifies good delivery norms for gold, silver and 31 other items

Unlike earlier, gold and silver meeting the Indian standards could now be delivered on exchanges like MCX which deal in their derivatives

People purchasing Gold Jewellery at UTZ Jewellery Shop. Photo: Kamlesh Pednekar
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People purchasing Gold Jewellery at UTZ Jewellery Shop. Photo: Kamlesh Pednekar

Rajesh Bhayani Mumbai
The Bureau of Indian standard (BIS) on Wednesday notified standards for delivery of 32 items, including gold and silver. This implies that all commodities on the list, including bullion, will be treated on a par for delivery in India.

Indian standards for gold and silver have been made applicable from 28 December 2019. The standards for the two precious metals are the most debated, as India depends heavily on imports to meet its gold demand, and to a large extent silver demand, too.

Earlier, the Indian stock exchanges where gold and silver derivatives are traded — MCX, for example —
Topics : Gold trade

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