National Stock Exchange of India Ltd (NSE) on Friday launched commodity derivatives contract in gold and silver.

To start with, the exchange said it will focus on key non-agri commodities and gradually broaden our product offerings to agri-commodities. Commodity futures contracts on Gold (1 Kg), Gold Mini (100 gms) and Silver (30 Kg) are now available for trading on NSE.

The exchange is in talks with SEBI to launch the second tranche of commodity derivatives and is awaiting the approval from the regulator for now, said Vikram Limaye, MD and CEO, NSE.

The contracts will be physically settled on expiry with Ahmedabad as the base centre. NSE is also planning to extend delivery centres to all major metros.

With inputs from PTI.