» The Jewellers and Diamond Traders Association (MJDTA) provides daily benchmark rates for gold and silver in South India. These rates are published twice a day, at 9:30 AM and 3:30 PM IST (Indian Standard Time), and are quoted in Indian Rupees (INR). Retail jewelers across South India commonly rely on these benchmark prices when selling jewelry to customers.

» Daily auctions for gold and silver prices take place in Chennai, with real-time pricing available through Logimax, MJDTA’s technology partner. The prices are updated at 9:30 AM and 3:30 PM on the same day they are established. Market participants can access the MJDTA Precious Metals Prices through authorized administrators or directly from Logimax.

» MJDTA independently manages the pricing process and operates the auction platform used to calculate the gold and silver prices. While MJDTA oversees the administration, Logimax holds the intellectual property rights. The electronic platform is designed to be auditable and complies with the standard Principles for Financial Benchmarks.

» Any entity wishing to use the MJDTA Gold or Silver Price for valuation, pricing, or financial transactions must obtain a usage license from Logimax. For licensing inquiries, please contact sales[at]logimaxindia.com.

» Logimax also ensures proper governance of the MJDTA Gold and Silver Price benchmark, enforcing a Code of Conduct for all participants. The Precious Metals Oversight Committee, representing a diverse range of stakeholders in the gold and silver markets, governs the definition and methodology behind MJDTA’s benchmark prices for precious metals in South India.