Bullion traders demand exclusion of gold, silver from MCX

New Delhi, Apr 23 (UNI) The bullion and jewellery traders today urged the Prime Minister and Finance Minister to exclude gold and silver from MCX trading with immediate effect.

Keeping in mind the interests of traders and consumers, apex body of bullion and jewellery traders All India Sarafa Association (AISA) demanded that gold and silver should be excluded from the Multi Commodity Exchange (MCX) trading.

AISA President Sheel Chand Jain submitted that there has been vast fluctuation in the price of gold and silver due to speculative behaviour of certain elements who are not insterested in the overall growth of the economy but only in creating panic in the market.

The sudden rise and fall of gold and silver prices, many times in a day, has created instability in the minds of consumers as well affected the bullion trade adversely, he said, adding that this fluctuation in the metals is due to the MCX trading besides involvement of speculators.

''There is no reason for such volatile fluctuation in the trading of gold and silver where a large number of small traders are involved throughout the country. The sudden fluctuation in the prices of the two precious metals has also created a confusion and panic in the minds of consumers,'' Mr Jain said.

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