In a first, BSE to deliver India standard gold and silver in F&O segment

Move may see country emerge from price taker to price setter in bullion; all exchanges with F&O trading in bullion current offering LBMA -approved gold and silver for delivery

The BSE has introduced a first-of-its-kind India standard gold and silver delivery, under the ‘futures and options’ (F&O) bullion contracts. This move could potentially elevate India’s status as a ‘price-setter’ for the metals.

To facilitate the India standard delivery, the Bureau of Indian Standards (BIS) had, in January, notified standards for purity of gold and silver. All exchanges offering F&O contracts in bullion quote, at present, the London Bullion Markets Association (LBMA)-approved gold and silver for delivery. Only one Indian refinery qualifies for supplying LBMA gold; rest on bourses is imported.