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NCDEX to launch gold silver contracts

December 29, 2008 10:23 IST

The National Commodity & Derivatives Exchange is launching compulsory delivery one kg gold and 30 kg silver contracts on Monday. Named as 'Gold International' and 'Silver International', two contracts would be available for trading throughout the year and will offer four advantages.

These contracts will expire on the last trading day of the month prior to the expiry of international bullion futures contract, be settled on expiry at import parity costing, delivery logic based on intention matching and rupee value contracts for importers and traders.

On expiry of the contracts, the executed contracts would be settled ex-Ahmedabad basis and the price will be inclusive of custom taxes and exclusive of sales tax, VAT and Octroi.

BS Reporter in Mumbai
Source: source