Gold loses sparkle on MCX as share in volume hits 12-year low of 10.4%

Experts partly blame the commodity itself; Gold prices have not moved in a sustained manner over the past few years

Once contributing to over half to its overall trading business, gold has lost in attraction on the Multi Commodity Exchange of India (MCX).

Gold's daily average turnover (DAT) of about Rs 25 billion in calendar year 2018 till date on the exchange was the lowest in 12 years, despite several crests in overall DAT being recorded on the commodity bourse. This level of average turnover was not seen after the initial two calendar years of inception, 2004 and 2005, when it ran into a few millions. MCX is the country's largest commodity exchange (comex).

The decline indicates lack of price volatility in