NCDEX launches platinum trading

The National Commodity & Derivatives Exchange (NCDEX) today launched futures trading in platinum to widen its presence in the metal segment. A total of four contracts in platinum were offered for trading today, of which the first contract will expire next month, while the rest three in March, June and September next year, the exchange circular said.

The December contract opened at Rs 2,171.5 a gram and was trading at Rs 2,172 a gram while the March 2010 contract opened at Rs 1,935 per gram. As much as 500 gram of platinum was traded since morning in these two contracts, the NCDEX data showed.

Experts said the participation in platinum futures so far in the country has been poor. The volume at MCX, which was the first to offer platinum futures, is not encouraging.

Moreover, Indian market has yet not evolved as far as trading in platinum is concerned because traders still do not consider this metal as vibrant as gold, they said.