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Multi—Commodity Exchange of India (MCX) today said it has launched gold petal Delhi futures meant for investors in the northern India.
“After Mumbai, the MCX brings gold petal futures to small traders and investors in North India today,” it said in a statement here.
The price of 1 gm contract will include import and customs duties, but not sales tax and VAT. Delivery will be in demat or physical form.
Physical delivery, from centres in New Delhi, Mumbai, Ahmedabad, Hyderabad, Bangalore, Chennai and Kolkata, will be in multiples of 8 gm coins with 999 purity certified by the London Bullion Manufacturers Association, the release said.
MCX launched gold petal futures in Mumbai in April, which witnessed the highest daily turnover of Rs 125.82 crore on November 9. The contract is expected to cater to retail investors and traders in Delhi, Uttar Pradesh, Punjab, Haryana and Uttarakhand.
MCX offers gold contracts with denominations like gold petal (1 gram), gold (1 kg), gold mini (100 grams) and gold guinea (8 grams).
“Availability of gold petal, a product that can act as a systematic investment product, will attract retail participants,” MCX Managing Director and Chief Executive Officer Lamon Rutten said. PTI AP NP SRE 11231602
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