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e-platinum trading by NSEL

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e-platinum trading by NSEL
National Spot Exchange (NSEL) has launched the platinum trading in demat form for the India investors. Now the investors have the opportunity to buy, sell and hold the rare precious metal in electronic form.

NSEL also offers trading in e-Gold, e-Silver, e-Copper, e-Zinc, e-Lead and e-Nickel. e-platinum is the seventh commodity investment product launched.

 

They also have the option to accumulate Platinum in smaller denominations in a daily, weekly or monthly manner through SIPs (systematic investment plan). ‘e-Platinum’ will be available in denominations as small as 1 gm, which will encourage even small investors to diversify their portfolio into this precious metal, NSEL said in the press release.

 

The demand for Platinum has been steadily rising in India on the back of growing industrial demand and growing preference for Platinum jewellery in urban areas. Platinum demand in India is increasing by more than 20% year-on-year basis, driven by record sales by automakers, the biggest users, and also because investors have developed an appetite to invest into this rarest precious metal. India’s Platinum jewellery consumption has seen a strong growth of 45% to 50% in the past year, further added.

Mr. Anjani Sinha, MD & CEO, NSEL, said, “e-Platinum is a unique product that is designed to make Platinum, which is the rarest of all precious metals, affordable and accessible to all. The option of physical delivery in coins or bars form in multiple locations makes this product all the more attractive for retail investors, apart from other benefits like no storage issues and ease of trading this product seamlessly on NSEL’s pan-India electronic platform.”

e-Platinum will be available to retail investors at the same price anywhere in the country with the option of physical delivery in Delhi, Mumbai, Jaipur and Hyderabad currently. More centres will be added subsequently, Mr. Sinha added.

GoodReturns.in

Read more about: gold platinum nsel
Story first published: Saturday, April 21, 2012, 12:14 [IST]
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