NSE empanels Augmont to streamline physical gold conversion into Electronic Gold Receipts
NSE has partnered with Augmont Gold Tech to facilitate conversion between physical gold and Electronic Gold Receipts, seeking to broaden formal-market participation among jewellers, refiners, traders and investors while improving liquidity and price discovery.
What happened
National Stock Exchange of India (NSE) · NSE has empanelled Augmont Gold Tech to support conversion of physical gold into Electronic Gold Receipts and back,
Key facts
- NSE began operations in 1994
- NSE was the world's largest derivatives exchange by trading volume in calendar 2025
- NSE ranked third globally in the equity segment by number of trades
What changed
NSE has empanelled Augmont Gold Tech to support conversion of physical gold into Electronic Gold Receipts and back, aiming to deepen India’s formal gold market, improve liquidity and price discovery, and increase participation by jewellers, refiners, traders and investors.
Why this matters
NSE’s Augmont partnership strengthens the formalization and financialization of India’s large physical gold market, creating a potential long-term tailwind for exchange-linked gold trading volumes and price discovery.
What to watch
- Monthly number and value of physical-gold-to-EGR conversions routed through Augmont.
- Growth in EGR trading turnover, bid-ask spreads, delivery volumes and active market participants on NSE.
- Number of jewellers, refiners, traders and vaults enrolled in the partnership workflow.
- Regulatory or tax clarifications affecting EGR conversion, redemption, collateralisation and GST treatment.
- Announcements of bank, NBFC or lender products accepting EGRs as collateral.