MCX launched gold petal futures in Mumbai in April, which witnessed the highest daily turnover of Rs 125.82 crore on November 9, 2011.
Multi-Commodity Exchange of India (MCX) today said it has launched gold petal Delhi futures meant for investors in the northern India. "After Mumbai, the MCX brings gold petal futures to small traders and investors in North India today," it said in a statement here. The price of 1 gm contract will include import and customs duties, but not sales tax and VAT. Delivery will be in demat or physical form. Physical delivery, from centres in New Delhi, Mumbai, Ahmedabad, Hyderabad, Bangalore, Chennai and Kolkata, will be in multiples of 8 gm coins with 999 purity certified by the London Bullion Manufacturers Association, the release said. MCX launched gold petal futures in Mumbai in April, which witnessed the highest daily turnover of Rs 125.82 crore on November 9. The contract is expected to cater to retail investors and traders in Delhi, Uttar Pradesh, Punjab, Haryana and Uttarakhand. MCX offers gold contracts with denominations like gold petal (1 gram), gold (1 kg), gold mini (100 grams) and gold guinea (8 grams). "Availability of gold petal, a product that can act as a systematic investment product, will attract retail participants," MCX Managing Director and Chief Executive Officer Lamon Rutten said.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
Fiercely independent and pro-consumer information on personal finance.
1-year online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
30-day online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
Complete access to Moneylife archives since inception ( till the date of your subscription )