National Spot Exchange Launches e-Platinum Trading

National Spot Exchange Ltd. (NSEL) has started trading platinum electronic spot contracts for jewelers and retail investors with its e-Platinum platform in ‎denominations of 1 gram for retail investors and 100 grams for jewelers, the exchange said.‎

National Spot Exchange“The option of physical delivery in coins or bars in multiple locations makes this product all the ‎more attractive for retail investors, apart from its other benefits like no storage issues and ‎ease of trading,” said Anjani Sinha, the managing director of NSEL.‎

Spot exchanges are an alternative electronic platform to domestic physical markets. NSEL ‎currently offers dematerialized account based instruments called e-Series for commodities ‎such as gold, silver, copper, zinc, nickel and lead.‎

NSEL stated that demand for platinum has been steadily increasing in India due largely to ‎strong industrial demand and a growing preference for platinum jewelry in urban areas.‎

The exchange estimated that India’s platinum demand has grown by more than 20 percent a ‎year, driven by record sales by automakers and growing investment demand. India’s platinum ‎jewelry consumption has seen a strong growth of 45 to 50 percent in the past year, it added.‎

Sinha said that e-Platinum will be available to retail investors at the same price across the ‎country with the option of physical delivery in Delhi, Mumbai, Jaipur, and Hyderabad.‎

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