Can a NRI invest in Indian commodities

[Varun Munjal]

Hi All,

I am currently working in the US, I wanted to know whether a NRI can invest in Indian commodities on the ncdex and MCX.

Can someone guide me on how to invest here. Also is it a good time to buy gold at 26000Rs.

Thanks

 

[ashu1234]

Hi All,

I am currently working in the US, I wanted to know whether a NRI can invest in Indian commodities on the ncdex and MCX.

Can someone guide me on how to invest here. Also is it a good time to buy gold at 26000Rs.

Thanks

Hello Mr Varun,
Yes you can open account here in India. At mcx we have NRE account for individuals working at US, you just have to submit xerox of residential card and bank details. I work and manage fund at reputed broking house and we do have clients like you. If you want more details please leave me mail at [email protected].
About gold, I would advice not to take position in gold right now as in India we are prone to huge risk of currency appreciation which is price of gold is yet to correct in USD/INR terms. If you have read yesterdays testimony of Mr. bernanke he said yes, QE eventually is going to be phased out later this year. So take informed decisions.