MCX plans to launch spot trading in gold?

Buzz doing the rounds in market circles is that MCX, the country's largest commodity futures bourse, plans to start a spot market platform for trading gold. This, according to a few brokers, would be on the lines of spot trading in agri commodities launched by NCDEX Spot, a subsidiary of MCX's rival NCDEX.

Repeated phone calls to confirm the reports with MCX officials went unanswered. MCX offers trading in metals and energy futures contracts and accounts for well over 80% of the combined turnover of four national and three regional bourses. Market sources say given its strength in the non-agri futures space, a proposed spot market for gold would be a logical move.