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Dhimant Bhatt

Mumbai , July 20

THE first-ever weekly gold (demat) contracts - GoldAhm July05 - launched by the Multi Commodity Exchange of India last week were settled successfully on Thursday, resulting in physical delivery of 10 kg of gold at Ahmedabad.

MCX launched weekly gold contracts last Friday.

"The total outstanding position on Wednesday was 10 kg of gold which resulted in physical delivery. Members can take delivery in physical form or demat it, but two members have taken physical delivery of 5 kg each at Ahmedabad," an exchange official said. The trading cycle of the first contract was four days and the total volume was 100 kg valued at Rs 59.45 lakh. There were two buyers and one seller, an official said. During the contract period, gold moved up Rs 20 to end at Rs 6,030 per 10 gram.

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