Financial Daily from THE HINDU group of publications
Thursday, Feb 24, 2005
Financial Daily from THE HINDU group of publications Thursday, Feb 24, 2005 |
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Agri-Biz & Commodities
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Commodity Exchanges Industry & Economy - Precious Metals Record delivery in gold contracts Our Bureau
Mumbai , Feb. 23 MULTI Commodity Exchange (MCX) has reported physical delivery of 602 kg of gold, valued at Rs 35.95 crore, for February contracts. This physical delivery is almost four times that of the last delivery that took place in December 2004 contracts, when 152 kg were physically delivered, an MCX release said. MCX also recorded a daily peak turnover of 1,222 crore in silver contracts on February 16 with total volume of 11,54,190 kg. The total turnover on that day was Rs 1,816 crore. The complete delivery procedure had been worked out at a very optimal cost. On an average, each participant involved in the delivery process incurred only Rs 350 a transaction. The gold contract is of 1 kg and the price quotation is for10 gram. The due date rate was Rs 6,063 per 10 gm.
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