MCX records highest delivery in gold guinea Aug '08 contract

The Multi Commodity Exchange (MCX), has recorded the highest delivery of 8,900 coins (around 71.20 kilograms valuing Rs 8.66-crore in the gold guinea August 2008 contract.

The previous high of 3,118 coins was witnessed for the July 2008 contract, a release today said.

The settlement price on expiry of the contract was Rs 9,738 per 8 grams including the making charges of Rs 200 per 10 grams being charged from the buyer as against a premium of up to Rs 1,400 per 8 grams in physical gold as charged by other options available.

The participants were benefitted from nil vaulting/storage charges, the release said.

 

On the expiry date, the open interest was 8,918 coins out of which 8,900 coins resulted into delivery showing conversion rate above 99.9 per cent.

The delivery reflects transparent pricing and assurance on purity of the coins by the exchange.

Retail participation in the contract is on the increasing trend which is discovered by data that national brokers across India took delivery on behalf of their multiple clients, each delivery ranging from 1-10 coins also, the release added.