Gandhinagar: The International Bullion Exchange will start at the Gujarat International Finance Tec-City (GIFT-city) in Gandhinagar on 1st October. An invitation is sent to PM Narendra Modi to inaugurate it.

The International Bullion Exchange will keep an eye on the gold prices at global level. It will decide the gold price for the country as per international standards. The International Bullion Exchange will bring uniformity in gold rates and transparency in the prices and quality of the gold across the country. It will be headed by Bombay Stock Exchange (BSE) and the stakeholders will be Multi Commodity Exchange (MCX), National Stock Exchange (NSE), Central Depository Services Limited (CDSL) and National Securities Depository Limited (NSDL).

The gold policy for the International Bullion Exchange is prepared by Indian Gold Policy Centre (IGPC), jointly formulated by Indian Institute of Management (IIM) Ahmedabad and World Gold Council (WGC). The trading of gold ranging between 5 grams to 1 kilogram will be done at the International Bullion Exchange.