MCX Gold contracts registered highest delivery since inception

The Multi Commodity Exchange of India Ltd. (MCX) has witnessed a record delivery of 5,158.80 kg (valued at Rs 1,821 crore) in gold August delivery contracts. Factors like increased volatility, market uncertainty, change in duty-structure and increase in gold prices encouraged both buyers and sellers to use the MCX derivative contracts effectively to hedge their margins and meet delivery commitments. The last time delivery in MCX gold contract crossed 5,046 kg-mark was in October 2009. The open interest in gold contracts (all variants) also had earlier seen a six and a half year high level of about 35,000 Kg in July 2019. P S Reddy MD and CEO, MCX said, “A robust delivery mechanism, physical market connect and strong linkages between spot and MCX derivative contracts besides our continuous quest to offer best exchange platform lead to establishment of a resilient regulated institutional structure for the stakeholders.”

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