| Asset Code |
KGOLD |
| Product Code |
KGOLDF |
| Series Code |
KGLMMMYYYY |
| Trading System |
NMCE’s Derivatives Trading and Settlement System |
| Trading Hours |
Monday to Friday:10:00 am to 10:00 pm
Further extensions in timings upto 11:30pm will be notified through circulars
Saturday:10:00 am to 2:00 pm
|
| Unit of Trading |
1 Kg of Fineness .995 |
| Delivery Unit |
Gold Bars of 1 Kg. serially numbered and of fineness .995 |
| Quotation/Base Value |
10 grams of fineness .995 (Ex-Ahmedabad (inclusive of all taxes and levies relating to import duty, customs but excluding sales-tax and VAT, any other additional tax or surcharge on sales-tax, local taxes and octroi) |
| Tick Size |
Re.1 |
| Price Band * |
Base daily price limit = 3%
Ist slab of daily price limit = 3%
II nd slab of daily price limit = 3%
Maximum daily price limit = 9%
When the base daily price limit is breached, the relaxation will be allowed upto the first slab without any break / cooling off period in the trade. In case the daily price limit of the I st slab is also breached, then after a cooling off period of 15 minutes, the daily price limit will be relaxed as per the limit stated in the II nd slab. |
| Quality Specification |
The Gold delivered under the contract must be Gold Bars weighing 1 Kg. each and assaying not less than .995 fineness bearing a serial number and identifying origin of the refiner/brander. |
| No. of delivery Contracts in a year |
6 alternative contract in Year |
| Delivery Centers |
Ahmedabad(Basis), Chennai, Hyderabad, Jaipur, Kolkatta, and New Delhi. |
| Opening of Contracts |
Minimum two months prior to the contract month |
| Due Date |
5th day of the delivery months if 5th happens to be holiday then previous working day. |
| Closing of Contract |
Squaring up of positions will be permitted between 1st and 5th of delivery month. No fresh positions building will be allowed. From 1st to 5th of delivery month, seller can tender Warehouse Receipt for settlement and Warehouse Receipt will be accepted for settlement at closing price of the previous day. |
| Delivery Logic |
Compulsory Delivery |
| Limit on open position |
Client Level – 4 MT
Member Level – 16 MT. |
* In case of price movement in International markets which is more than the maximum daily price limit (currently 9%), the same may be further relaxed in steps of 3% with the approval of FMC
|