Gold Ten (10g) Futures Set to Launch on MCX from 1st April 2025

MCX Introduces Gold Ten Futures

The Multi Commodity Exchange of India (MCX) will launch Gold Ten (10g) futures contracts starting April 1, 2025. According to circular, this new contract offers traders and investors a structured platform to trade gold in smaller units while effectively managing price risks. The contract is designed to enhance participation in the bullion market, especially at a time when gold prices are hovering near record highs, with MCX gold approaching ₹90,000 per 10 grams.

The exchange said that Gold Ten (10 gram) futures will be available for trade from April 1, 2025. MCX also mentioned in the circular that these contracts will be available with expiry months of April 2025, May 2025 and June 2025.

The exchange has set the trading unit for the contract at 10 grams. Notably the quoted price for the commodity will be ex-Ahmedabad. The price will include import duties and other levies. However, GST and other applicable taxes will not be included in the quoted price of the commodity. Here’s a look at some important details related to Gold Ten (10-gram) futures

Contract Specifications

• Symbol: GOLDTEN
• Trading Unit: 10 grams
• Price Quotation: Ex-Ahmedabad (inclusive of import duties, excluding GST and other taxes)
• Tick Size: ₹1 per 10 grams
• Maximum Order Size: 10 kg

Margins & Limits

• Initial Margin: Minimum 6% (or as per SPAN margining system)
• Extreme Loss Margin: 1%
• Daily Price Limits: Initial 3%, extended to 6% and 9% if volatility increases
• Trading Hours: Monday to Friday, 9:00 a.m. – 11:30/11:55 p.m. (adjusted for US daylight saving time)

Open Position Limits

• For Individual Clients: 5 metric tones (MT) or 5% of market-wide open positions, whichever is higher
• For Member Firms: 50 MT or 20% of market-wide open positions, whichever is higher

Delivery & Settlement

Gold Ten futures contracts will have a compulsory delivery mechanism, ensuring physical settlement at designated MCX facilities.

• Primary Delivery Centre: Ahmedabad
• Additional Centres: Mumbai, New Delhi
• Purity Standard: 999 fineness (from LBMA-certified or MCX-approved refiners)
• Settlement Price: Based on the Ahmedabad spot price for 10g of 995 purity gold, adjusted for 999 purity

A staggered delivery period begins five trading days before expiry, allowing traders to specify their delivery preferences. If no preference is given, the position is settled via compulsory delivery.