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Stop futures trading, demands GDA

09 Jun '06
1 min read

End of legal and illegal futures trading in gold and silver, was the issue raised by jewellery traders of Gujarat during a demonstration.

Submitting a memorandum to Rajkot District Collector, 21 gold and jewellery traders requested him to prevent this illegal trading in metals and money-markets.

The trading takes place in bulk and traders have to purchase gold and silver at high prices, said Kantibhai Ranpara, Secretary of Gold Dealers' Association (GDA) in Rajkot.

However, an official of National Commodities and Derivatives Exchange (NCDEX) said that this trading is beyond their control; stopping this activity is impossible due to its deep roots.

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