Strengthening its presence in bullion, the Ahmedabad-based National Multi Commodity Exchange (NMCE), that posted high growth in 2009-10, has introduced an innovative gold guinea contract to reach out to the masses. It has tied up with Muthoot Group for delivery. Currently, the exchange gets 20 per cent of its volumes from the metal and bullion trade.

The specified quality of the gold guinea is .999 purity (basis), acceptable upto .995 purity and shall be appropriated for premium/discount. The guinea would be Muthoot-branded, BIS-certified serially numbered, available in a tamper proof packing.

Click here for Cloud Computing

Also Read   Related Stories News Now - NMCE kicks starts trading in gold guinea contract - 'We plan to buy partner's stake in insurance JV' - Rolling off track - Jai Balaji raises Rs 198.5cr via QIP - MCC may bring other businesses to India - For a fab India

Also Read   Related Stories News Now - S&P reaches 7-month high before hitting wall - World Bank President Zoellick to step down on June 30 - Oil cos cut jet fuel prices by Rs 350/kl - Telcos operating profit to rise 5% in 2 yrs: Crisil - PESB recommends SS Narsing Rao for CIL's top slot More

They are located in Ahmedabad, Kolkata, Jaipur, Mumbai, Indore, Delhi, Rajkot, Kanpur, Lucknow in the North and Trivandrum, Kollam, Kottayam, Calicut, Chennai, Coimbatore, Madurai, Truichi, Bangalore, Mangalore, Hyderabad, Trichur. The unique value proposition of NMCE’s gold guinea contract is that the buyer/seller can take/deliver the guinea at any of the 22 centres, irrespective of the availability of the counterparty at that particular centre.

Three of the four permitted contracts, namely the series of, December 09, January 10 and February 10 of the 8-grams gold coin were activated on November 7, 2009 while the March 10 series will be available for trade on December 2009.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - S&P reaches 7-month high before hitting wall - World Bank President Zoellick to step down on June 30 - Oil cos cut jet fuel prices by Rs 350/kl - Telcos operating profit to rise 5% in 2 yrs: Crisil - PESB recommends SS Narsing Rao for CIL's top slot

Tags : National Multi Commodity Exchange | BIS | gold   Read Business news in  Advertisements -  Now property search gets more exciting than ever before! -  High Growth Business Opportunities in Africa - Register to explore -  We live for our family. have you secured them? -  Earn fuel worth Rs.2400 with Citi -  India's No. 1 Property Site. Click here to know more.. -  Get 5% cashback on telephone bills with Citi -  Diseases earlier, Saving Costs, Extending Lives. Know More.. -  Enjoy the journey as much as the destination. click to know more.. -  Exim Bank Conclave on India - Africa Project Partnership. Know more.. -  Medium-sized businesses are the engines of a smarter planet. -  Be part of it The World's Largest Aircraft. -  Creating Wealth made simple the SIP way. Know more.. -  Only Developer to give a guarantee on time space & rate. -  Office 365 for professionals and small businesses. -  Buy Your Property with Our Triple Guarantee in India. -  Improve Patient Care & Experience. Click here to know more -  Win a Business Class Ticket to Europe..Know more.. -   Introduce a New Automotive Luxury Car.. know more -  Health is Wealth..... Insurance + Savings... Know More...