MCX sets up gold delivery centres in Kolkata, Bengaluru, 3 other cities

hese would be in addition to the one each located at Ahmedabad, Mumbai and New Delhi

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Leading commodity bourse MCX Friday said it has set up five additional delivery centres, one each at Chennai, Hyderabad, Kochi, Bengaluru and Kolkata, for Gold and Gold Mini contracts traded on the bourse.

These would be in addition to the one each located at Ahmedabad (which is a basis centre), Mumbai and New Delhi.

Traders can make use of the additional delivery centres on all Gold and Gold Mini contracts expiring from December 2018 and onwards, an official statement said.

MCX said the network of eight delivery centres would facilitate lakhs of jewellers, big and small, to conveniently take physical deliveries of gold through exchange mechanism from their nearest location.

"It will increase participation and help in realising the government's vision behind GST and help achieve one nation one price," MCX CEO and Managing Director Mrugank Paranjape said.

It will also help the exchange become a delivery vehicle, pan India, for quality gold by bringing buyers and sellers together from across these eight centres, and create a cohesive exchange-based integration of the bullion and jewellery market place, he added.

This would further strengthen the country's bullion ecosystem and benefit stakeholders at large. Since inception, MCX has seen deliveries of more than 105 tonne of gold, MCX added.