Spot gold exchanges, which were proposed nearly two years ago, could soon become a reality as the government plans to allow the self-regulation model.
The government is likely to come out with basic rules for spot gold exchanges by early November, according to sources close to the development. Discussions on the issue are already underway, and a standing committee consisting of all stakeholders and government officials is deliberating on it, the sources said.
The regulation of these exchanges was an unresolved issue, as spot trading is a state subject. Besides, gold has a currency aspect and is also an industrial