MCX to launch gold futures contracts of 10 gm from Apr 1
This story was originally published at 15:37 IST on 19 March 2025
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MUMBAI – The Multi Commodity Exchange of India will launch gold futures contracts of 10 grams expiring in April, May, and June from Apr. 1, the exchange said in a circular Tuesday. The contract symbol is 'GOLDTEN' and the trading unit or base value is 10 grams. The unit for delivery will be 10 gm or its multiples, the exchange said.
The exchange has set the maximum order size at 10 kg. The tick size of the contract will be INR 1 per 10 gm, MCX said.
The price quotes will be ex-Ahmedabad, inclusive of all taxes and levies but excluding Goods and Services Tax and other applicable levies. The daily price limit will be 3%. Whenever the slab is breached, relaxation will be allowed up to 6% without any cooling off period. In case the daily price limit of 6% is also breached, then after a cooling off period of 15 minutes, it will be relaxed up to 9%.
MCX already has gold futures and gold mini futures contracts, whose trading units are 1 kg and 100 gm, respectively.
A lower contract size of 10 gm would mean lesser margin, which is likely to increase participation of small participants, Kedia Advisory said. One has to pay margin of around 10%, or around INR 900,000, for trading in MCX gold futures contracts. The margin on gold mini futures is INR 90,000. However, with respect to gold 10 gm futures, the margin will be just INR 9,000, the brokerage firm said. End
Reported by J. Navya Sruthi
Edited by Ashish Shirke
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