India considers establishing gold exchange

INDIA - Pressure is building on the Indian federal government to give clearance for setting up a gold exchange for spot, forward and futures trading in the precious metal.

Demand for an exchange was boosted as Y. V. Reddy, deputy governor of the Reserve Bank of India, the country's central bank, made a public announcement that the "constitution of a gold exchange would help in efficient price discovery and emergence of healthy and transparent market practices".

The RBI plays an important role i