Commodity Futures Contract MCX Gold is a legal Contract to Buy or Sell a particular Commodity at a Predetermined Quality ,Quantity ,Place and Price .
We will understand this with an Example of MCX Gold Contract : https://www.mcxindia.com/products/bullion/gold
MCX 1 Kg Gold Contract Specifications :
- Symbol is Gold
- Contract Launch Calendar is given in Advance :https://www.mcxindia.com/docs/default-source/products/list-of-contracts-launch-calendar/list-of-contracts-launch-calendar.pdf
February April June August October December are Gold Future Contract Months
3. Contract Launch Date is 16th
4. Last Trading is 05th Day of Contract Expiry Month Like 05 February , 05 April
5. Trading Period is Monday to Friday , Saturday and Sunday is a Trading Holiday
6. Trading Time : 09:00 AM to 11:30 AM/11:55 ( US Light Saving Time )
7. Trading Unit is 1 Kg and if a Buyer or Seller gives or Take Delivery : Quantity will be 1 Kg
8. Price Quotation will be Rs. per 10 Grams : Example Rs.46000 per 10 Gram
9. Price Quotation is Inclusive of All Import Duties and other Charges but Exclusive of GST
10. Tick Size is Rs. 1 per 10 Gram i.e a Buyer or Seller can Quote price by increasing or Decreasing Price by Rs. 1
11. Delivery Centre is Ahmedabad so if a Buyer or Seller wants to take or Give Delivery it can be done in a Exchange designated Delivery Vault at Ahmedabad : https://www.mcxindia.com/market-operations/warehousing-logistics
Also Read : SIP in MCX 1 Gram Gold Petal