Dubai Gold and Commodities Exchange, the world's newest commodities exchange and the first such marketplace in the Middle East, started trading this morning.
It will be the first to go, in what has become an overcrowded segment since India first allowed futures trading in commodities in 2003.
Gold prices are expected to remain volatile next week as investors track geopolitical developments in the Middle East and key macroeconomic data releases that could shape the sentiment in the domestic market, analysts said.
Shares of brokerage-related companies nosedived 18 per cent on Sunday after Finance Minister Nirmala Sitharaman proposed raising securities transaction tax on commodity futures to 0.05 per cent from 0.02 per cent in the Union Budget 2026-27.
Silver and gold prices declined sharply in the futures trade on Friday as traders booked profits at elevated levels after a record-breaking rally, tracking a bearish sentiment in global markets and a rebound in the US dollar.
Gold prices are likely to trade firm next week as traders await key economic data, including US inflation numbers, for fresh cues on interest rate outlook, while silver may remain volatile amid shifting risk sentiment and speculative activity, analysts said.
The Dubai Gold and Commodities Exchange, set up by Dubai and two partners from India and the first electronic multi-commodity derivatives exchange in the Middle East, will commence trading in November this year in precious metals contracts.
The settlement cycle for cash, derivatives, and securities lending and borrowing mechanism (SLBM) segments has been revised after September 5 and September 8 were declared as settlement holidays by clearing corporations, markets regulator Sebi said on Monday.
Indian Energy Exchange Ltd, a joint venture of Financial Technologies (India) Ltd and Multi Commodity Exchange, could be just one step away from getting approval to set up the country's first power exchange.
Have you heard of an electronic exchange to trade electricity? Soon, online power exchanges will be a reality in India.
The higher margins imposed on pepper in the wake of volatiluity in the commodity's prices by the Forward Markets Commission is likely to reduced soon.
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The exchanges have observed significant price and volume movement in the scrips of MCX in the recent past.
An interview with Jignesh Shah.
Financial Technologies India Ltd (FTIL) promoter Jignesh Shah, whose 'fit-and-proper' status to run an exchange has been under regulatory scrutiny following the Rs 5,600-crore payment fraud at NSEL, on Tuesday decided to continue as a director of group firm Multi Commodity Exchange (MCX).
The Multi Commodity Exchange of India Ltd has finalised the futures contract details of six commodities - gold, silver, castor seed, cotton, rubber and pepper. All the contracts will be physical delivery based.
The National Bulk Handling Corporation Ltd (NBHC) on Monday signed a memorandum of understanding with Bank of India to work together in the area of warehouse-based receipt financing.
You can now pay all your bills with your phone.
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.
Last week, after months of scrutiny, the Forward Markets Commission, the regulator for futures trading in commodities, approved a proposal from state-owned MMTC Ltd and finance-to-real estate group Indiabulls to set up a national multi-commodity exchange.
Foreign share holding limit in Maruti Suzuki India has reached trigger limit and any further investment by FIIs will be allowed only after RBI's approval.
The move comes nearly a month after it acquired five per cent in the National Stock Exchange.
The Ahmedabad-based Kunvarji Group has has signed with India's leading bourse, Multi Commodity Exchange of India (MCX) for offering Commodities related Training Programs in Ahmedabad.
In the last three financial years and in the current financial year till November 15, SFIO was asked to investigate 167 cases.
The exchange also plans to start Futures trading in electricity, carbon credit, coal, freight index, weather index, real estate index and rain index after the amendment to the Futures Contracts Regulation Act is passed by the Parliament.
The exchange also asked traders to square off their trading positions in three contracts -- gold February 2015, kapas March 2015 and kapas April 2015.
FMC approves commodity bourse's contract-launch calendar for two years.
MCX said it has no exposure to crisis-hit NSEL, which has to settle dues worth Rs 5,600 crore to investors after it suspended trading.
No reason was cited for rescheduling of the meeting.
Shah wants to focus this time on a mentoring role and help youngsters with innovative ideas live their entrepreneurship dreams by providing them a platform for "institutionalisation, globalisation and scaling up" of their ventures.
The Finance Ministry further said decision on seven FDI proposals has been deferred.
The FMC had warned MCX that it would not renew contracts, allow new contracts and eventually take away the licence to run the bourse if the commodity exchange does not comply with regulatory norms.
In a severe indictment, commodity market regulator FMC has said Jignesh Shah and his firm FTIL are not 'fit and proper' to run any exchange in the country and charged him of being the "highest beneficiary" in the NSEL scam.
Gold, a safe-haven bet, is likely to continue its record-smashing journey in the New Year, rising to Rs 85,000 per 10 grams and even Rs 90,000 level in domestic markets if geopolitical tensions and global economic uncertainties continue.
The government has cleared 19 foreign investment proposals, including that of Walt Disney Company and Reckitt Benckiser (India), entailing total investment of Rs 2,326.72 crore (Rs 23.26 billion).
Eight FDI proposals worth Rs 1,311.54 crore (Rs 13.11 billion), including that of Norwegian telecom firm Telenor, have been cleared by the government on the basis of FIPB approvals.
Making a weak opening, shares of FTIL further tanked 45 per cent to Rs 105.5 -- its fresh 52-week low on the BSE.
The Securities and Exchange Board of India, which had earlier rejected the MCX-SX's plea, was asked by a bench of justices Aftab Alam and C K Prasad to reconsider it within three months.
Chary also says some government officials have played an important role in favouring organisations that MCX competes with.
The licence of MCX-SX is coming up for renewal before Sebi later this month.
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