Silver gained 0.20 per cent to Rs 50,276 per kg in special Muhurat trading on the Multi Commodity Exchange (MCX) today as participants built new positions to mark the start of Samvat year 2070.
MCX offers commodity futures contracts in agriculture, precious metals, base metals and energy commodities, whereas AFET offers commodity futures contracts in white rice, rubber and tapioca.
The exchange has written to MCX for greater details on the special audit. BSE has sought the names of related parties, which have been withheld by MCX.
FMC approves commodity bourse's contract-launch calendar for two years.
The Kotak group is set to launch the country's fifth national commodity exchange, in association with the Ahmedabad Commodity Exchange (ACE), in which it is picking up a majority equity stake as an anchor investor.
The sessions court on Thursday extended the police custody of the Financial Technologies and Multi Commodities Exchange (MCX) promoter Jignesh Shah and former managing director and chief executive of the commodity exchange Shreekant Javalgekar till May 19.
India's good old 'mandis' are all set to make way for swanky spot exchanges soon. In two months' time, winds of change will sweep across the country's agricultural sector with the launch of electronic spot exchanges.
According to sources, BSE is seeking an offering that would value it at about Rs 4,000-5,000 crore (Rs 40-50 billion).
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.
Though the agency did not include former Sebi chief CB Bhave and ex-member KM Abraham in the case, it recommended departmental action against the two.
The exchange has always seen huge volumes in gold trading. But due to a fall in prices, volumes took a hit.
The RBI banned imports on a consignment basis, making it difficult for jewellers to source raw material.
The exchange also asked traders to square off their trading positions in three contracts -- gold February 2015, kapas March 2015 and kapas April 2015.
The board of directors at its meeting held on October 22, approved the said appointments, the exchange said in a regulatory filing on Wednesday.
Despite gold prices hitting record highs, analysts aren't gung-ho about the outlook for gold financiers Muthoot Finance and Manappuram Finance. This, they said, was due to intense competition from banks, coupled with stagnating loan books and likely pressure on margins.
Deloitte, MCX's is learnt to have objected to PwC pointing out several irregularities in the exchange's expenditure, donations, etc, in its audit report.
A yellow glow is likely to stand out amid grey geopolitical clouds in 2023, with gold price projected to touch Rs 60,000 per 10 grams in the Indian market as more investors veer towards safe-haven assets. In a year where volatility was more a norm than an exception, gold prices in the international market oscillated from a peak of $2,070 per ounce in March to a low of $1,616 per ounce in November and is steadily recovering since then, according to market experts. At the beginning of 2022, gold prices were around $1,800 an ounce.
India has imposed several restrictions on imports of gold, the biggest non-essential import item, to curb a record trade deficit.
Shares of Multi Commodity Exchange of India (have tanked over 11% to Rs 428 on back of heavy volumes on the bourses.
Shah came under scanner last year, when his group company NSEL faced a payment crisis and nearly 18,000 investors allegedly lost millions in late July.
India celebrated Dhanteras, the biggest gold buying festival, followed by Diwali, when scarcity of the yellow metal and high prices pushed consumers to buy silver and diamond jewellery.
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.
However, Deloitte, the latter entity, says regulations don't mandate it to go beyond a basic examination of the books of accounts.
The shares - close to 30% of the total holding - are expected to list on rival National Stock Exchange on or around February 3.
The licence of MCX-SX is coming up for renewal before Sebi later this month.
Board to ask National Securities Depository to unfreeze 5% of FTIL's stake.
In a first for India, bullion derivatives contracts will be settled on a blockchain platform. This will help in global acceptance of gold refined by Indian bullion refineries, giving a fillip to the local industry, exports, as well as investments. From November 1, the National Stock Exchange (NSE) will accept gold delivery only on the blockchain platform.
Bids for the issue, which opens on January 23 and closes on January 25, can be made for a minimum of 18 shares and in multiples of 18 thereafter.
Karvy group's commodity broking arm, too, is facing a liquidity crisis because of some issues related to NCDEX, said people in the know.
In the last three financial years and in the current financial year till November 15, SFIO was asked to investigate 167 cases.
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Gold prices on Tuesday rose by Rs 227 to Rs 28,418 per 10 gm in futures trade, largely on speculative positions created by participants amid a firming trend at the spot market.
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.
Slew of resignations at NSEL over past month in the wake of scrutiny; MCX gaps caused by new-age norms for commexes.
Making a weak opening, shares of FTIL further tanked 45 per cent to Rs 105.5 -- its fresh 52-week low on the BSE.
This measure will ensure that the price of a scrip cannot move upward or downward beyond a limit set for the day.
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.
Indians are no more rushing to buy bullion after this week's sharp sell-off
The Finance Ministry further said decision on seven FDI proposals has been deferred.
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).
Since the Union Budget, gold has become costlier by 8-9 per cent because of a 2.5 per cent increase in import duty to 12.5 per cent and about a 5 per cent depreciation in the rupee.
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