INDORE (Commodity Online) : National Spot Exchange (NSEL), India’s leading electronic commodity spot exchange announced record increase in e-gold turnover during the first four months of this year.
Addressing a press meet here, NSEL Managing Director and CEO, Mr Anjani Sinha said Average monthly turnover of e-gold increased to Rs 3,082.60 crore in the first four months of FY’12 as compared to Rs 436.89 crore in the corresponding period of last fiscal.
In the first eight months of the current calendar year, turnover of e-gold has risen by 60 per cent — from Rs 2,377 crore in January 2011 to Rs 3,823.63 crore in August till now, he said.
The Financial Technologies (FTIL)-promoted NSEL also recorded the highest daily (single day) turnover of Rs 359.67 crore for 2011 in e—gold on August 16, and a record delivery of 1,29,967 units on August 11, 2011, he stated.
NSEL launched e-series products, starting with gold, in March 2010 to meet the growing demand among retail investors to invest part of their savings in commodities, he said. The exchange added e-silver in April, copper in November and e-zinc in January 2011.
The ongoing bull run in gold is further boosting demand for e-gold, which has become a preferred investment avenue for retail investors because of the ease and security it offers, and also because it has given better returns than other investment products in the yellow metal, Mr Sinha said.
Since its launch, e-gold has given a return of 57.58 per cent, which was the highest compared to all other forms of investments in the precious metal, he said.
