Multi Commodity Exchange (MCX)- the India-based independent commodity exchange announced plans to launch a new gold futures contract on recycled gold. The proposed contract will be based on Indian gold standard and will enable delivery of domestically recycled yellow metal on the exchange platform. While speaking at the recently held event organized by the Commodity Participants Association of India, PS Reddy, Managing Director, MCX noted that the exchange is currently working with bullion traders and LBMA to develop a process through which recycled gold could be delivered on exchange platform. The new contract will ... (full story)