Thu, May 8 01:15 PM
MUMBAI (Reuters) - The Multi Commodity Exchange of India Ltd (MCX) launched two gold coin futures contracts on Thursday, a statement from the exchange said.
The unit size of the contracts -- for July and August -- is one coin of 8 grams, the statement said.
"Already, the July contract has traded 3,000 units," an exchange official, who did not wish to be named, said.
The contracts will have seven delivery centres including Ahmedabad and Mumbai.
India's gold coins market is growing at a rapid pace, with more Indians choosing to invest in gold in bullion form rather than jewellery.
In 2007, India's gold demand for investment grew by 10 percent to 215.4 tonnes compared with 195.7 tonnes in 2006, while jewellery demand grew by 6 percent to 558.2 tonnes compared with 526.2 tonnes in 2006, data from World Gold Council shows.
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