NCDEX to launch gold delivery centre in Hyderabad tomorrow

National Commodity and Derivatives Exchange (NCDEX) will launch its gold delivery centre here tomorrow and are set to open two more in Mumbai and Jaipur soon, a top official said today.

"With the launch of the Gold Now market place, we are creating an ecosystem that is at par with international standards which will help the Hyderabad bullion and jewelry industry improve its efficiencies. Mumbai and Jaipur will have delivery centres shortly," Suresh Devnani, Head-Business Development of MCDEX, told reporters here.

The Gold Now platform will provide an impetus to the domestic recycling industry, which at present consists of 17 refineries, he said.
 

Quoting World Gold Council figures, he said approximately 22,000 tonnes of gold is estimated to be lying with Indian households, temples and trusts.