New future for bullion

BS OPINION

 What is worse, Indian bullion traders, users (goldsmiths numbering over half a million) and investors had no way to hedge their price risks except through illegal routes.

 This scenario is to change completely with the launch of on-line futures trading in gold and silver by the Ahmedabad-based National Multi-Commodity Exchange of India (NMCE).

 Bullion futures trading on three more exchanges is also on the anvil. These include the exchange proposed to be launched jointly by the Bombay Bullion Association (BBA) and the Multi Commodity Exchange of India (MCX) around Diwali and by the National Commodities and Derivatives Exchange of India (NCDEX).

 This will bring India