News & Features, Resource News, Silver

Indian investor interest in silver surging

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By Shivom Seth

On the back of growing interest by small investors in India, Indian Commodity Exchange, which started operations in late 2009, is to soon introduce micro volumes of gold and silver contracts of up to 1 kilo each. The Exchange is a screen based on-line derivatives exchange for commodities. At the end of last year, it had recorded one of its highest volumes in physical delivery of bullion (gold and silver) on its platform.

“With the spurt in the demand of gold and silver in recent times, commodity exchange trading in these precious metals has surged in India, which is arguably the world’s largest bullion market. Delivery as a percentage of average open interest was 94.10% in gold, 62.02% in silver and 79.78% in gold of 100 grams,” said Nanikbhai Mehta at the exchange.