The National Commodity and Derivatives Exchange has said that bullion will be part of the spot market trading which the exchange plans to launch soon.
The exchange has formed a new company -- NCDEX Spot Exchange--and senior officials said bullion will be one of the important products in spot market trading.
NCDEX Chief Business Officer Shrikant Subbarayan said that the spot market
will be launched by Diwali. "We are launching it in Bihar, and are talking to Andhra Pradesh, Rajasthan and Madhya Pradesh also," he said.
On bullion spot trading, he said traders will be able to trade directly and the prices will follow international prices.
He said NCDEX is planning to introduce weather and index trading and is awaiting permission from the Forward Markets Commission in this regard.