BSE comes out with new platform for gold buyers
   Date :26-Nov-2022

gold buyers  
Business Bureau
BSE (formerly Bombay Stock Exchange) has recently come out with a new platform for purchasing gold. After receiving final approval from capital markets regulator Securities and Exchange Board of India (SEBI) for introducing the Electronic Gold Receipts (EGR’s), BSE launched the platform recently.
On Friday, the Sameer Patil, Chief Business Officer, BSE, formally announced launched the platform in Nagpur.
The new product will cater to all market participants, which will include individual investors, as well as commercial participants like importers, banks, refiners, bullion traders and jewellery manufacturers.
BSE is confident, that this platform will lead to greater assurance in the quality of gold supplied, price discovery, and will lead to greater transparency thus creating a vibrant gold ecosystem in India.
On the occasion of muhurat trading, BSE launched two new EGR products of 995 and 999 purity where trading will be in multiples of 1 grams and deliveries will take place in multiples of 10 grams and 100 grams. BSE successfully completed and settled the transaction on T+1 basis.
When it comes to buying physical gold, there is no guarantee of purity if the gold which has been bought is not hallmarked.
This does not happen with EGR as it is certified by Government-licensed entities. Other advantages include buying gold from the comfort of your home, and ability of instant liquidity without any hassle. In the future, it can also be used it as collateral for on-line loans and can be exchanged for physical gold such as gold jewellery, gold coins, and bullion.