MCX, meanwhile, has decided to accept gold and silver bars refined at domestic refineries for deliveries, subject to final regulatory approval. It had received the Securitiers and Exchamnhe Board of India's (Sebi's) approval for the launch of Gold Mini options with Gold Mini (100 grams) bar as underlying,
said in a statement.
The price of gold had reached an all-time high in both domestic and international spot markets
on Wednesday. The yellow metal breached the $1,900-mark globally. In Mumbai’s Zaveri Bazar, standard gold closed 0.8 per cent up at a new peak of Rs 50, 919 per 10 gram. Silver closed 1.5 per cent lower at Rs 59,885 a kg, but internationally, the metal was 0.93 per cent up at $22.79 an ounce.
Domestic physical demand, however, has remained largely confined to investments. In rural areas, there is some demand, but only 30-40 per cent what was seen last year. Higher gold priced have given some cushion to small and medium-sized jewellers who had melted their excess stock and paid back bank or gold metal loans.
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