MCX Gold Aug 2014 contract sees highest delivery of 1,100 kg

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Mumbai: Multi Commodity Exchange of India Ltd (MCX) on Wednesday said it has witnessed highest delivery of 1,100 kg in the MCX Gold August 2014 contract over the last one year.

"Gold delivery volumes have significantly picked up on the MCX platform during the past one year. MCX Gold August 2014 contract witnessed highest delivery of 1,100 kg," a company statement said here.

The last time delivery in MCX crossed 1,000 kg-mark was in April 2013, much prior to the imposition of Commodity Transaction Tax and other events that led to turmoil in the commodity markets. Deliveries dipped to 4 kg in February 2014, but started reviving from June 2014 onwards.

"Such high delivery bears ample testimony of high hedging interests and hedgers' faith in the MCX gold contract", MCX Executive Vice President P K Singhal said.

"We are grateful to the participants who have posed confidence in us, even during the phase of trough and the troubles that MCX has undergone since October 2013," Singhal said.

PTI

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