The National Stock Exchange of India (NSE) marked its highest-ever trading volumes in the Electronic Gold Receipts (EGR) segment. Traditionally considered an auspicious day for purchasing gold, Dhanteras witnessed significant creation of NSE EGRs, reflecting growing awareness of this instrument, the stock exchange platform said in a release on Saturday, November 7.
On Dhanteras, NSE witnessed festive demand for EGRs, from across the country, which has been met by gold suppliers participating in the segment. The trading volumes in the NSE EGR segment touched a record 2,27,692 units.
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EGRs provide investors with an exchange-traded, dematerialised form of holding gold. It also aims to offer a platform to mobilise the domestically available physical gold, including recycled gold, into the formal financial system. Additionally, unlike several digital-gold NSE EGRs provide participants with an opportunity to buy, hold and trade gold within a regulated and transparent market ecosystem. With exchange-based trading, standardised clearing and settlement mechanisms, and regulatory oversight, NSE EGRs offer a more structured and secure avenue for participating in the gold market, while strengthening investor confidence.
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Reflecting on the milestone, NSE Chief Business Development Officer Sriram Krishnan said, “Dhanteras is a celebration of wealth, prosperity and the enduring value of gold. Traditionally, the purchase of physical gold has been an integral part of this celebration. However, the way we own and hold gold is evolving with changing times. NSE EGRs offer an opportunity to retain the intrinsic value of gold in a more efficient, transparent and secure form, without necessarily holding the physical metal.
He aaded, "NSE EGRs represent an evolution in gold ownership as the value of gold remains the same irrespective of whether it is held physically or in dematerialised form.. More importantly, by encouraging the conversion of domestically available and recycled gold into NSE EGRs, we can help mobilise India's existing gold resources, strengthen the organised gold ecosystem and potentially reduce our dependence on gold imports. The record volumes and EGR creation witnessed on Dhanteras are encouraging indicators of the growing acceptance of this instrument. We are certain that more investors and market participants will embrace NSE EGRs as a modern, regulated and efficient way of participating in India's gold market.”
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