MCX
set to launch an international gold contract denominated in rupees, obviating
the need to hedge even rupee risk, said a person aware of the development. Aside
from being hugely beneficial to hedgers, importers and exporters of gold, the
new contract could potentially wean away certain entities from illegally
trading gold futures and options through internet access to commodity exchange
platforms in New York, Dubai and Europe," said the person. - Read more
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