India’s National Commodity and Derivatives Exchange (NCDEX) today announced the launch of Gold Futures Contract, which is expected to bring more transparency and credibility into gold pricing in the country. The new Gold Futures Contract will be available for trade from May 21st (ie., today).
Gold and silver are lower this morning as the recent bout of weakness continues. Equities in Asia were lower on economic growth and inflation concerns and European indices are also lower as Greek debt talks are in disarray.
At peak hours, India's power deficit is over 14% from an average energy shortfall of 9% during non-peak hours. The use of nuclear power to generate an extra 50,000 MW of electricity is the most viable solution to the problem.