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Mumbai, Sept 19 The delivery of gold guinea on Multi Commodity Exchange (MCX) has increased more than double in last one month. MCX recorded the highest delivery of 8,900 coins (71.20 kgs valued at Rs 8.66 crore) in the Gold Guinea August ‘08 contract.

The previous high of 3,118 coins was witnessed for the July ‘08 contract.

The settlement price on expiry of the contract was Rs 9,738/8 grams including the making charges of Rs 200/10 grams being charged from the buyer as against a premium of up to Rs 1,400/8 grams in charged by other options available for buying guinea.

On the expiry date, the open interest was of 8,918 coins out of which 8,900 coins resulted into delivery showing conversion rate above 99.9 per cent.

Retail participation in the contract is on the increasing trend which is discovered by data that national brokers across India took delivery on behalf of their multiple clients, each delivery ranging from 1 to 10 coins, said a MCX spokesperson.

More Stories on : Gold & Silver | Commodity Exchanges

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