GOLDHEDGE receives good response on NCDEX

Leading commodity exchange NCDEX today said it has received favourable response to its GOLDHEDGE contract on the day of Akshaya Tritiya recording a volume of Rs 34.5 crore till 2:30 pm.

Trading at exchange till 2:30 pm recorded a volume of Rs 34.5 crore, with a traded quantity of 140 kg, NCDEX said in a release issued here.

The exchange recorded monthly volume of Rs 2,445 crore with a traded quantity of 9028 kg in April-14. Open Interest at the end of April-14 crossed 900 kg.

"Holding gold on paper is far more cost effective while one also does not have to be wary of its security and warehousing hassles. GOLDHEDGE is innovative and it is the right benchmark for the Indian market where gold touches every household and every pocket," NCDEX Managing Director and CEO Samir Shah said.

GOLDHEDGE is a gold contract that gives a transparent and straightforward price benchmark of this precious metal to the consumer and is designed as an intention-matching contract, where delivery occurs only when both buyer and seller agree in advance on the quantity and location.