On the national multi commodity exchange of India the online gold futures trade would be launched very soon. This launch would literally place India with New York and even the Tokyo commodity exchange in terms of gold. This would benefit many exports, jewelers, banks that are into bullion trade do a fantastic job and it would secure them from the sharp price fluctuations actually. This online gold futures trade is being launched over the online commodity futures trading terminal of Geojit. This would really enable India to be one of the countries that would determine the price of gold in the world gold market.
There are quite a number of people who try to protect themselves by positioning themselves over the international commodity exchange. But then there are quite a number of people who like to go for the illegal routes. It has been reported that at the moment demand is a little bit on the lower side. This is mainly because the rate of gold dollar has shown an upward trend actually. It has come close to a value of $1255.
It has been observed that both and dollars move in the opposite direction actually. And investors usually choose one as the alternative when the other is not as favorable. In India gold at MCX (multi commodity exchange of India) was found to do trading at a value of 18,966. This value coincides to a percentage of 0.57%.
A bank dealer complained that though they had been in position where they were able to do dealing of 100kgs but in a market where demands start coming up, it was not possible to strike a very good deal actually.
It has been pointed out interestingly that the deman for gold in a country like India which happens to be the biggest buyer of bullions show an upward trend during few particular months like the region between September to November. Basically in the month of November the auspicious occasion of dhanteras is celebrated. During this point of time basically people are interested in buying things made of gold, be it jewelries or any other embellishments.
If the rupee gets stronger then it would naturally have a very important role to play out here. The dollar denominated commodity would turn cheap as soon as the previously mentioned strength increment of rupee takes place. And this mainly happens because it plays a prime role in determining the cost of gold. The cost of gold is usually quoted in dollars. A poll has given an estimate value of India’s gold imports in the year of 2010. It came to 504.5 tonnes which happens to be a figure which is 24.5 tonnes more that what it was in the last year. Gold happens to be one of the most well known and popular commodity that is used actively as traded futures. Basically if we observe carefully then we will find practically every country has futures exchanges. Some of the countries are really lucky since they have more than one commodity as futures exchanges. But now let us have a look at the meaning of futures trading briefly. When the buyers and the sellers get involved in this kind of transaction, then there can be special contracts which they can choose to enter. One such contract is the futures trading contract. This process is usually aided by futures exchanges, here one would get the right to sell or buy any commodity or product or it can be any service in the future. Now this happens to be one of the most colorful and bright option as trading.