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Multi Commodity Exchange has opened new delivery centres for gold in Chennai, Hyderabad, Kochi, Kolkata and Bengaluru. These delivery centres will be in addition to the existing facility in Mumbai and Delhi.
The new delivery centres and revised delivery and settlement procedure as specified by Multi Commodity Exchange Clearing Corporation, the wholly-owned subsidiary of MCX, will be applicable to all gold and gold mini contracts expiring from December, said MCX in a statement on Friday. Market participants can take delivery from new centres without any additional cost.
In the interest of bullion and jewellery industry at large, the move is aimed at bringing more inclusion of regional small and medium jewellers into organised hedging and delivery mechanism. It will also increase participation and help in realising government’s vision behind GST of achieving one nation one price, said a jeweller.
The move will bring buyers and sellers together from across these states and create cohesive exchange-based integration of the bullion and jewellery market place, he added. Futures trading in bullion contracts has hogged the limelight with the recent entrants in commodity exchange space BSE and NSE targeting a pie of bullion trade from MCX.
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