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Thursday, January 14, 2016

Gold Futures Contracts on MCX

 

MCX is India's leading commodities exchange and a leading exchange to trade in gold. Contracts traded here offer great liquidity and offer investors the option of contracts in four different sizes as outlined below with their other key features:

  • Gold
    • Ticker GOLD
    • Trades during 6 months of the year i.e. February, April, June, August, October, December (Monday - Saturday)
    • 1 contract = 1 kg of gold
    • Initial margin: 4%
    • Daily price limit: 3%
    • Upper limit on positions: Up to 2.5 MT for individual clients; higher of 12.5 MT or 15% of open position on market for all clients together through a member
    • Quality: 995 purity, 999 purity
  • Gold Mini:
    • Ticker GOLDM
    • Trades in all 12 months i.e. January to December (Monday - Saturday)
    • 1 contract = 100 grams of gold
    • Initial margin: 4%
    • Limits on positions: Up to 2.5 MT for individual clients; higher of 12.5 MT or 15% of open position on market for all clients together through a member
    • Quality: 995 purity, 999 purity
  • Gold Guinea:
    • Ticker GOLDGuinea
    • Trades in all 12 months i.e. January to December
    • 1 contract = 8 grams of gold
    • Limits on positions: Up to 2 MT or up to 250,000 contracts at one time
  • Gold Petal:
    • Trades in months as specified by the exchange
    • 1 contract = 1 gram of gold
    • Limits on positions: Up to 2,000,000 contracts at one time

Gold Weight Conversion Table

To convert fromToMultiply by
TonnesTroy ounces32150.7
Troy ouncesGrains480
KilogramsTolas85.755
KilogramsBahts68.41
KilogramsTroy ounces32.1507
Troy ouncesGrams31.1035
Million ouncesTonnes31.1035
KilogramsTaels26.7172
Troy ouncesPenny weights20
Troy ouncesAvoirdupois ounces1.09714
Avoirdupois ouncesTroy ounces0.911458
Short tonneMetric tonne0.9072
GramsTroy ounces0.0321507

Gold Information

The best decisions are informed decisions and a decision to buy gold should also be a well-informed one. Especially given the present-day scenario where one has diverse investment options, the decision to invest in gold is not just 'at what price' but also when, how and how much. Gold prices, gold price trends and movements, investment channels and returns on investing in gold are all important factors to consider.

Information is now available online from a number of sources both authoritative as well as informational. This facilitates decision making to save time and effort. Besides the latest gold rates and factors that affect gold prices, information is available on gold production, trades, different forms of gold (physical and paperless), leading jewellers etc. Experts also publish their views on gold as an asset as well their outlook on the performance of gold.

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