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World Gold Council to form panel to set up India's first spot gold exchange

A dedicated exchange for physical gold is expected to pave the way for standard gold pricing practices in India, apart from bringing in transparency into a market which sees large cash transactions

Reuters  |  Mumbai 

The World Gold Council (WGC) plans to form a committee soon to help set up India's first spot gold exchange within 12 to 18 months, a senior official of the industry body said on Thursday. A dedicated exchange for physical gold is expected to pave the way for standard gold pricing practices in India, apart from bringing in transparency into a market which sees large cash transactions. "We will be taking lead in forming the committee, which will have all the stakeholders," Somasundaram PR, managing director of the WGC's Indian operations, told Reuters. The ...

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First Published: Thu, September 28 2017. 15:08 IST
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