NSEL extends facility to convert e-Gold into one gram coins

National Spot Exchange (NSEL) today said e-Gold units can now be converted into one gram of gold coins under a new facility.

"The latest move to allow e-Gold delivery in 1 gm denominations is a benefit that is unique to this product alone. No other commodity investment product in gold available in India has this facility," NSEL Managing Director and CEO Anjani Sinha.

E-Gold is the country's first commodity investment product in dematerialised format.

Certain other features such as transparent pricing, seamless trading and zero holding costs have made this product a preferred investment option for retail investors and HNIs, he added.

In e-Gold, investors have found a unique way to park their money in gold without having to worry about purity or physical security that is inherent to jewellery and physical bullion, he added.

This launch was to mark the completion of two years of launch of e-Gold.

This is in addition to the existing delivery denomination options available in 8 gms, 10 gms, 100 gms and 1 kg lots.

E-Gold comprised 17% of NSEL's total turnover in the FY12.