Mumbai-based RiddiSiddhi Bullions Limited (RSBL) has decided to expand its operation of RSBL online spot trading of gold and silver in Gujarat by adding two more delivery centres?Rajkot and Surat? apart from existing centre at Ahmedabad.
On Saturday, RSBL will announce the launch of the two additional delivery centres of gold and silver in Ahmedabad. The firm 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 centers 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,? Prithviraj S Kothari, managing director, RSBL said. Ahmedabad is one of major importing and trading centre in the country.
?With the increasing need of 100 gram bar of gold in Gujarat and western region, the firm is intending to increase supply in the small cities and bullion centres in Gujarat,? he said.
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,? he said.
After receiving good response from Mumbai, Ahmedabad, Hyderabad, Vijayawada, Chennai and Coimbatore; achieving high volumes from these centers, RSBL is expanding its business across the country.