Gold Spot Exchange: The spot gold exchange has been approved in the board meeting of SEBI today. In the budget of 2021-22, it was announced to make SEBI its regulator.
New Delhi: Now the Gold Spot Exchange in India will start in India. That is, now gold can be bought and sold like shares in India. Gold Spot Exchange (Gold Spot Exchange Benefits) has been approved in the meeting of SEBI today. The Gold Exchange also works almost like a normal stock exchange. Now people can place orders for buying and selling of gold in the market like stocks. And also you can get bumper profits on it.
After this the gold order is delivered to the buyers. Just as it takes 2 days (T+2) to reach the demat account after the purchase of a share in the stock market, similarly it may take a day or two for gold to reach the buyer. However, investors can also decide not to take physical delivery and sell at a profit later.
What will be the name of gold exchange
Gold exchange will also be like a stock market in which people will do business from their side. Trading can also be done like shares. Not only this, there will also be physical delivery of gold under this i.e. gold can also be bought. SEBI has told in its draft proposal after today’s meeting that the name of the new gold exchange will be ‘Electronic Gold Receipt’.
What is Gold Exchange?
Gold exchange is very much like a stock exchange. In this, people place orders for buying and selling of gold like the stock market. Once the order is placed, the gold is delivered to the buyers. Just like after the purchase of a share, it is transferred to its demat account, in the same way the gold is sent to the buyer. If the investor does not want to take it, then he can also decide not to take physical delivery and later sell it at a profit.
Where is the gold exchange in the world
At present, gold exchange is being done in many countries of the world. Shanghai in China, Hong Kong and London in the UK, New York in the US are the world’s most famous gold exchanges. A large amount of gold is traded here. Let us tell you that India is the second largest consumer and importer country in the world. In such a situation, there will be many benefits from becoming a gold exchange.
Let us tell you that gold will be bought and sold at all times in the spot gold exchange. Also, the biggest thing is that it will know the true prices of gold. The value of gold that will be known by trading on the Gold Exchange of India can be known as ‘India Gold Price’.
