RSBL on spot gold trading spree in India

March 14, 2009

Commodity Online
SURAT, India: After the fall in diamond trade, several firms are now eyeing the gold pie to tide over the crisis. So, more and more players are jumping into the bullion market to tap the gold boom.

As part of this trend, Mumbai-based RiddiSiddhi Bullions Limited (RSBL) has announced the opening of two more delivery centres in nothern Indian's Gujarat state.

The centres will be at Rajkot and Surat. In Gujarat, the firm already has a delivery centre at Ahmedabad.

Announcing the opening of the centres, RSBL said it has successfully completed its first year of operation of online trading platform RSBL SPOT on March 12.

RSBL SPOT is currently trading with contracts of 100 gm (.999) and 1 kg (.995) gold, and 30 kg silver (.999) with delivery centres in Mumbai, Ahmedabad, Hyderabad, Vijaywada, Chennai and Coimbatore.

With the increased rate of volatility in bullion prices globally, small traders and bullion dealers will get the benefits of this platform with live quotes of gold and silver. The prices on spot are comparable to international or other prices existing in the market. It has emerged as the benchmark Indian prices for precious metals, RSBL said. Ahmedabad is one of the major importing and trading centres of bullion in the country.

With the increasing need of 100 gm bar of gold in Gujarat and western region, the firm is intending to increase supply in the small cities and bullion centres in Gujarat.

RSBL SPOT—Spot Precious-metals Online Trading is first of its kind electronic trading platform in India with a distinction of giving physical delivery of precious metal.

About 500 plus registered clients have started online trading in gold and silver. Along with increasing participation, we are intending to increase supply of 100 gram bars in the small cities and bullion centres of Gujarat.

To buy Hallmarked 999.9 Pure Swiss Gold Bars, Gold Bullion, Gold Ingots & 916 Gold Coins in Singapore or convert your 916 Physical Gold to physical 999.9 Pure Swiss Gold Bars, Click on Buy Gold to find out more. You may Sell Gold to us too.

[ Back To Home ]