Gold Market
NSE MD & CEO Ashishkumar Chauhan has detailed the exchange's plans to diversify revenue streams, highlighting the live Electronic Gold Receipts (EGR) product and a pipeline that includes bond index futures and electricity contracts.
Indian authorities are weighing joint RBI-SEBI oversight of digital gold and a requirement that each unit be backed by physical bullion. The market holds roughly $3 billion in assets.
Gold remains the traditional hedge, but copper and energy markets are gaining structural relevance as demand from electric vehicles, AI, and India's energy needs reshape commodity investment.
India's gold imports doubled in July to an estimated 40-45 tonnes, defying Prime Minister Modi's appeal and a sharp customs duty hike. Cultural attachment and store-of-value demand keep the market resilient.
India Gold Metaverse has appointed Nirakar Chand, former CEO of Diamond India, as Managing Director of BullionX, its technology platform for bullion markets.
Gold futures on the MCX rose ₹1,283 to ₹1,63,721 per 10 grams for October delivery, driven by fresh positions and firm spot demand. Globally, gold gained 0.99% to $4,648.78 per ounce.
The gold price is heavily influenced by demand from India and China, the world's two largest consumers, whose cultural and economic factors create recurring patterns.
Retail gold in India has risen from ₹89 per 10 grams at independence in 1947 to ₹1,54,500 per 10 grams, reflecting decades of economic shifts.