MCX the first bourse to offer one gram gold futures with delivery option

With this, retail investors can now buy coins in the futures market and store it in a vault of his choice before taking delivery

The Multi Commodities Exchange (MCX), the market leader in non-agricultural derivatives, has launched a contract with delivery-based settlement and a one-gram trade lot. This means retail investors have another way to buy a gram of gold, stored in vault facilities of one's choice. 

MCX had a gold petal futures contract with delivery option for eight-gramme coin. This has now been converted to the 1g deliverable contract. It is perhaps the first such in the world, of a 1g deliverable gold contract in commodity derivatives.

It is a futures contract and a buyer has to deal through his broker, buy a gramme or