Comments
MCX has approved the gold refined by Augmont Enterprises for the good delivery list.
The Exchange had issued the MCX Good Delivery norms for BIS-Standard Gold/Silver last January. The Bureau of Indian Standards (BIS) in 2020 had notified good delivery standards for gold and silver.
MCX had earlier empanelled MD Overseas and Kundan Care to the good delivery for gold. The gold from the empanelment refiners’ list can be delivered against the gold (100 gram) contracts.
The exchange is considering more domestic refiners and their applications are at various stages of the empanelment process, said MCX in a statement on Monday.
PS Reddy, Managing Director & CEO, MCX said more domestic refiners are volunteering to join the empanelled list, facilitating more domestic refined gold getting channelized through robust Exchange delivery mechanism.
This symbolizes the beginning of a new era that contributes to expansion of organised domestic bullion trade in line with Mission Atmanirbhar Bharat, he said.
Record delivery
The Exchange witnessed a record delivery of 1,011 kg of Indian Refined Gold valued at ₹493 crore of gold bars refined by the empanelled domestic refiners in FY’22.
In total, MCX received 10,113 such gold bars of 100 grams against delivery and settlement obligations in Gold Mini contracts during the said period.
Overall, MCX has seen delivery of over 128 tonnes of gold and more than 4,145 tonnes of silver since inception.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.