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 Photo: Mario Tama/Getty Images
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BUSINESS The future is gold October 3 was a gold-letter day for traders in precious metals. After 41 years, India allowed futures trading in gold and silver. Futures trading in bullion had been banned after the 1962 war with China. India is the world's largest consumer of gold, buying 800 tonnes a year. It also buys about 3,500 tonnes of silver annually. The nod for futures trading in bullion will provide India's nearly 50,000 gold traders an opportunity to tide over international price volatility and give them the option of hedging against price fluctuations. India is also gearing up to join the ranks of the New York Commodity Exchange, a division of the New York Mercantile Exchange, Tokyo Commodity Exchange, and Shanghai Gold Exchange. A golden investment opportunity
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