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Analysts worry that without more fundamental reforms, India will struggle to contain its record high current account deficit and hence support the rupee.
The all-time high price of silver is Rs 75,000 a kg, recorded in April 2011.
In the first major international exchange business initiative by an Indian entity, a new commodity and currency bourse, Singapore Mercantile Exchange (SMX) on Tuesday commenced trading here with derivatives contracts like gold, crude oil and Euro-US dollar.
Treat silver as part of the procyclical or growth assets in your portfolio, advises Sanjay Kumar Singh.
While NSE is exploring 8-10 new agri-commodities, BSE is eyeing as many as 15, most of which aren't traded on any other online derivative exchange in India.
It will be the first to go, in what has become an overcrowded segment since India first allowed futures trading in commodities in 2003.
With the government extending its ban on forward trading in more agricultural commodities, a section of jewellery traders has sought a similar curb on gold and silver futures as well to curtail the volatility in rates. The government suspended futures trading in soya oil, potato, rubber, chana (gram) on Wednesday, while rice, wheat, urad and tur were banned early last year. Sudden rise and fall in prices of gold and silver, many times in a day, has created instability.
Even as the MCX Stock Exchange and the Delhi Stock Exchange are hoping to launch equity trading on their platform soon, another Mumbai-based exchange, the Inter-connected Stock Exchange is set to follow suit.
Amidst concerns of liquidity crunch due to weak sentiments in stock markets across the globe, investors have started winding up their positions in commodities such as gold, silver and nickel. Investors are selling off their positions in commodities market globally because of the liquidity crisis owing to weak stock market trends internationally, analysts said.
Laxity in enforcing KYC and allied norms suspected; money laundering gaps also on probe panel's mind
Ratio trading in gold and silver prices is a trading tool.
Commodity futures market's dream run came to a halt in 2013 as a Rs 5,600 crore scam in Jignesh Shah-led spot exchange NSEL and imposition of transaction tax on non-farm items hampered the growth of business, with turnover estimated to dip by 30 per cent to Rs 125 lakh crore.
'Everyone is still trying to understand the quantum of impact demonetisation will have on the economy.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Sebi Act deals with securities and the definition of securities, according to the Securities Contracts Act, doesn't include commodities.
The improvement in the current account deficit is expected to provide a major reprieve to the government and the Reserve Bank of India which have been battling to prop up the rupee.
They induced HNIs to trade on spot market commodity exchange with promise of high returns.
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The Reserve Bank of India late on Wednesday unveiled rules to restrict how much its citizens and companies can invest abroad and announced additional curbs on gold imports.
Derivatives exchange DGCX started trading futures for the S&P BSE Sensex
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The broader consensus was that the Fed would cut the monthly stimulus of $85 billion by $10-15 billion.
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The government on Tuesday announced hikes in import duties for gold and silver, but it has yet to unveil other details such as its plan to tax imports of non-essential items.
Dabba trades also allow investors to avoid SEBI registration requirements or the margin requirements set by exchanges.
In an hour-long chat on rediff.com on Thursday, A K Prabhakar, senior VP and Head - Equity Research (Retail), Anand Rathi Financial Services Ltd, answered some important questions on the market.
The stock exchange does not store and display the numbers of investors. That would be like a bank publishing the details of its customers for everyone to see.
Few top honchos of India Inc did very well in 2014.
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