Metals E-Trading Catches Investor Frenzy in India
Source: Commodity Online (12/7/10)
"Thousands of investors are flocking to the online spot commodities market."
Till now, buying gold, silver, copper or trading in any commodities has been through physical dealers or through futures exchanges. But these days, investor frenzy is catching up with E-trading in spot commodities in India.
India's only active commodities exchange for spot market—the National Spot Exchange Limited (NSEL)—offers E-Gold, E-Silver and E-Copper that are driving thousands of investors to trade in online spot commodities market.
NSEL is promoted by India's largest commodities exchange—the Multi Commodity Exchange (MXC). MCX is one of the leading global commodities exchanges in precious metals, base metals and energy.
According to Anjani Sinha, MD & CEO, NSEL, the investor response to the exchange e-series of spot commodities has been tremendous. "The overwhelming response received by e-Gold and e-Silver has convinced us about investment appetite for e-series products. e-Gold and e-Silver are distinguished by their simplicity, transparency, accessibility, affordability, tradability and cost effectiveness. Thus, it is value for money for investors, who are diversifying their portfolios through these products," says Sinha.
NSEL's has launched E-trading in several metals and agricultural commodities. The exchange's main products these days are E-Gold and E-Silver products that are posting record turnovers, owing to enhanced participation by retail investors. In terms of lots, daily trading in E-Gold takes place to the tune of nearly 200000 lots, while E-Silver has a turnover of around 250000 lots.