Gold prices have softened over the last few months. After a recent meet with the MCX management, a Motilal Oswal Securities note highlights that demonetisation, goods and services tax (GST) etc. have cut bullion volumes to nearly half in the span of a year though encouraging trends are seen in base metals.
In an interview to CNBC-TV18, Mrugank M Paranjape, MD & CEO of Multi Commodity Exchange of India (MCX) spoke about the latest happenings and gave his outlook for the future.
Paranjape said that we have seen positive increase in volume in the 45-50 days of Q4.
He further said that volumes up 16 percent so far and Q4 average volume is close to pre-demonetisation levels.
“We used to clock about Rs 9,800 crore on bullion per demonetisation and that number throughout 2017 was roughly in the range of Rs 5,000 crore and that number has picked up by about Rs 1,000 crore in last 45 days. However, we have a good mix where we have energy, we have base metals and these two segments have done very well for us,” he said.
Talking about products, he said we are hoping to get two more approvals from Sebi before end of FY18.
We will look to launch two more products in April 2018, he added.
For entire interview, watch accompanying video.
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