National Spot Exchange(NSEL), promoted by Financial Technologies, has launched platinum contracts in demat-e-Platinum, the first of its kind in Indian commodity markets.
E-Platinum is available in small denominations like 1 gm, which will encourage small investors too.
The e-Platinum plan enables investors to buy,sell, hold and liquidate platinum in electronic form. Moreover, it offers investors to accumulate Platinum in smaller denominations in a daily,weekly or monthly manner through systematic investment plan.
“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,” according to Anjani Sinha, MD & CEO of NSEL.
Currently, e-Platinum is available to retail investors at the same price anywhere in the country with the option of physical delivery in Delhi,Mumbai, Jaipur and Hyderabad. Mr.Sinha told that more centers will be added subsequently.
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.
E-Platinum is available in small denominations like 1 gm, which will encourage small investors too.
The e-Platinum plan enables investors to buy,sell, hold and liquidate platinum in electronic form. Moreover, it offers investors to accumulate Platinum in smaller denominations in a daily,weekly or monthly manner through systematic investment plan.
“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,” according to Anjani Sinha, MD & CEO of NSEL.
Currently, e-Platinum is available to retail investors at the same price anywhere in the country with the option of physical delivery in Delhi,Mumbai, Jaipur and Hyderabad. Mr.Sinha told that more centers will be added subsequently.
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.
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