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Posted on 11 March 2012.
If you are interested in investing in gold, chances are that you have been following the MCX gold price. The MCX, or Multi Commodity Exchange, is an independently owned commodities exchange based in Mumbai, India. The MCX is seen by many as the modern incarnation of the old Silk Road trading centers, specializing in metal, bullion, fiber, cereal, pulses and spices, as well as a host of other popular commodities. The MCX is the number one commodities exchange in India and is number one globally in the exchange of silver, number two in natural gas and number three in gold and crude oil futures. Investors flock to the MCX each year to trade gold, and gold is, in fact, the most traded commodity on the exchange. If you want to invest in gold, you should pay close attention to MCX gold price. Western investors have a tendency to overlook or dismiss Indian exchanges. Those that pay attention are often very pleased with the money they make.
There are a number of ways that you can keep track of the MCX gold price. The most straightforward is to read the MCX COMDEX. This publication is the only composite commodities price index available in the country, but it is official and accurate. Even if you do not subscribe to the MCX COMDEX itself, you may be able to find daily gold figures online. While convenient to check, it can be difficult to verify the accuracy of prices listed on the internet. Many sites do not update as frequently as they should and some even give false information. If you intend to check prices online, you should always make sure that your information is coming from an official source such as a financial journal or a comprehensive commodities index. If you are basing investment decisions on the MCX gold price you read, it is important that the price you read is correct.
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