NCDEX to launch mini-gold contracts within a month

The National Commodity & Derivatives Exchange (NCDEX), the country's largest agri commodity exchange, is planning to launch futures of 8-gram gold coins contracts soon.

"We plan to launch this mini-gold contract hopefully within a month," said Shrikant Subbarayan, chief business officer.

The exchange obtained the permission from the Forward Markets Commission (FMC), the commodity market regulator, to launch carbon credit futures as well early this month.

The contract would be made available for trade as early as possible for delivery in June and December this year.

The main purpose of the small coin futures is to bring it within the reach of the common man.

Existing gold contracts are traded in kilograms and 100 grams denominations.

Subbarayan said the delivery would be chanellised through the exchange's business partners and custodians.

The exchange is gradually strengthening its focus on non-agri commodities, including base and precious metals, in order to cut losses.