National News
IAGES Marks First Anniversary, Uniting India’s Gold Ecosystem Around Trust, Transparency, and Industry Excellence
IAGES Accredited Partners, Industry Leaders and Trade Associations Come Together At A Glittering Event Hosted By The IAGES To Celebrate One Year To Its Achievements; In Its Debut Year, IAGES Has 140+ Accredited Partners Spread Across 750+ Stores In 235+ Cities Under Its Wing.
The Indian Association for Gold Excellence & Standards (IAGES) celebrated its first anniversary today at Hotel Sofitel, One BKC, Mumbai with its accredited partners and key representatives of India’s gold value chain. The annual meet commemorated IAGES invaluable contribution towards transforming the gold industry in India by building a transparent, trusted, accountable and ethical ecosystem for both businesses and consumers alike, with its standard code of conduct.
Over the course of the past year, IAGES has built a fast-growing network of 140+ accredited partners spread across 750+ partner outlets in 235+ cities pan India. Some of India’s most reputed brands like GRT, Senco, PNG, Jos Alukkas, WHP, Orient Jewellers, Lagu Bandhu, Pothys, Thangamayil and Jagannath Pednekar as well as small and medium regional and city-based retailers, reflecting the industry’s growing confidence in IAGES’ accreditation framework.
Kaushlendra Sinha, CEO, IAGES, Said:
“The idea of IAGES was conceptualized by World Gold Council on how we can shi ft India’s gold-buying mindset from fear, cynicism and distrust to trust, confidence, and faith in the ecosystem. A year ago, IAGES was created to benefit gold businesses with a valuable third-party-accessed accreditation but also consumers, through a network of trusted and verified gold businesses and jewellers.
When the gold-buying mindset changes at the root level, the industry eventually evolves at large. Over the next 3-5 years, we see India’s gold industry at par with the ethics and business practices of some of the world’s most developed gold markets,”
IAGES has also spent most part of the year tirelessly educating consumers via its ongoing ‘Before you exchange or buy gold, #PehlaCheckIAGES’ campaign, on how to buy gold only from verified sources. Over 50 million consumers have been reached through outdoor advertising, metro branding, digital platforms, and social media initiatives as part of the umbrella campaign.
To change the gold-buying mindset in India and empower consumers with the right tools to make informed decisions, IAGES also launched its Accredited Partner Directory, a first-of-its-kind platform that allows users to search for verified gold businesses by brand, location, or category before they step out to buy or exchange gold. The online directory continues to attract massive number of visitors every day.
India has long been one of the world’s most significant gold markets. IAGES believes the next chapter lies in strengthening the industry’s reputation through greater accountability, customer-centricity, and voluntary adoption of best practices. The association welcomes gold businesses from every corner of the country to join its growing network and play a meaningful role in shaping an industry that future generations can be proud of.
National News
Augmont-NSE Partnership Drives Strong Start for India’s Gold EGR Market, with Over 1,60,357 Units Traded in First Few Hours
Electronic Gold Receipts segment witnesses active two-way trading on day one, with 1,60,375 units traded, representing approximately 6 kg of gold and a traded value of ₹23.34 crore as of 04:25 PM
India’s gold market took an important step towards greater integration with the commencement of live trading in the Electronic Gold Receipts (EGR) segment on the National Stock Exchange of India (NSE) today. Enabled through the collaboration between NSE and Augmont Enterprises Limited, the launch brings together NSE’s regulated exchange infrastructure and Augmont’s integrated physical gold ecosystem, creating a new avenue for investors to trade physically backed gold.
On its opening day, the EGR segment witnessed active two-way trading, with 1,60,357 units traded by approximately 04:25 PM, representing around 6 kg of gold. The trading activity translated into a cumulative traded value of approximately Rs.23.34 crore during the first session. The segment also demonstrated orderly price discovery, with prices remaining within a narrow intraday range of Rs.1,450.50 to Rs.1,460.00. The bid-ask spread remained between Rs.0.50 and Rs.1.00, indicating continuous two-way quotations and an active order book.
Each EGR represents 100 mg of physical gold, with the underlying gold held in SEBI-regulated vaults. Investors can buy and sell EGRs through their demat accounts on the exchange, while retaining the option of converting their holdings into physical gold, subject to the applicable framework. The segment follows a T+1 settlement cycle, under which trades executed on a particular day are settled on the next business day, facilitating the transfer of securities and funds through the exchange’s regulated clearing and settlement mechanism.
Under the strategic collaboration, Augmont serves as a key physical gold and infrastructure partner for NSE’s EGR segment, supporting the creation, vaulting, redemption and liquidity ecosystem. The gold backing the EGRs is sourced through Augmont’s integrated refining infrastructure, bringing together physical gold processing and exchange-based trading within a regulated framework.
The commencement of live trading marks an important step towards building a more transparent and accessible gold market in India. By enabling standardised gold to be traded through an exchange-based mechanism, EGRs have the potential to strengthen price discovery, improve market participation and create a more integrated ecosystem for physical gold.
Ketan Kothari, Whole-time Director, Augmont Enterprises Limited, said:
“The commencement of EGR trading marks the transition of our collaboration with NSE from building the underlying infrastructure to enabling a live, exchange-traded gold market. The day-one trading activity, continuous two-way quotations and orderly price discovery are important initial milestones for a new market segment.
At Augmont, we have brought together our refining capabilities and physical gold infrastructure to support the creation, vaulting and redemption of EGRs. We believe this initiative can play an important role in making physical gold more accessible, transparent and integrated with India’s formal financial ecosystem. Our focus remains on strengthening the ecosystem and supporting its wider adoption among investors, brokers and other market participants.“
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