Mr. Sidhavelayutham M., Founder & CEO, Alice Blue
Over 20 % YoY increase in Gold Trading and investments witnessed in FY 2021
New Delhi, April 30: Alice Blue has seen a significant increase in Gold Trade among its investors during FY 2021 over the previous FY. The company has witnessed a cumulative growth of over 20% in Gold Trade from its customer base, who have been actively investing and trading in Gold Futures and Gold ETFs (Exchange Traded Funds). It has been primarily influenced by the steady increase in Gold prices in the Country and its high liquidity.
In the markets, Gold trading is typically done through futures, options, and exchange-traded funds (ETFs). Gold is a highly traded contract on the MCX (Multi Commodity Exchange) as it has very high liquidity, with daily trading averaging over 15,000 contracts for over 4500 Crore in Rupees in the Big Gold Category alone. Apart from that, Gold is also traded in different forms such as Gold Mini, Gold Guinea, and Gold Petal.
Mr. Sidhavelayutham M., the Founder & CEO, Alice Blue, said, “over the last year, we have been seeing a Quarter on quarter growth in Gold trade, leading us to a record 20% growth in cumulative number for FY 2021 over FY 2020. We are witnessing a trend where customers are opting for Gold Bonds over Physical purchase of the precious metal making it a convenient & safe instrument to hold.”
Alice Blue offers online products such as Trade School and ANT IQ. These platforms offer educational courses and webinars on trading & investment by India’s top stock market investors and educators. For beginners, ANT-IQ educates customers through insightful articles and blogs on how to get started in the Stock Market. These learning tools along with new product offerings have been strong motivators for new customer acquisitions.”
Alice Blue also offers a sophisticated marketplace for trading products called Trade Store. The first of its kind marketplace helps the customers with Automating the Trades with Zero Coding Knowledge, trading and Investment tips, and Investment in Mutual Funds at Zero Brokerage Fees. Additionally, for ease of investing, the company offers customers a chance to invest in IPOs through easy UPI transactions.
The post Alice Blue witnesses double-digit growth in customers investing in Gold appeared first on Republic News Today.
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