Commodity delivery related queries

  1. I am currently staying in Mumbai, can I choose to deliver gold here instead of Ahmedabad?
  2. For bullion why is the tender date till 6th whereas the expiry of the contracts happens on 5th?
  3. Is the Intention given by the seller or buyer normally?
  4. How does the assignment happen when seller or buyer gives the intention? Is it random or on a pro-rata basis?
  5. When will we get to know the Final Settlement prices / reference prices for DDR for each commodity?

The main delivery centre is for Gold, Gold Mini and Gold Guinea is Ahmedabad. The Gold petal contract is deliverable at Mumbai. The Additional delivery centres for Gold, Gold Mini are Mumbai and Delhi. ( Circular No MCX/198/2005). The Gold which is accepted for delivery is serially numbered. Duty paid gold bars supplied by LBMA approved suppliers are approved by MCX to be submitted along with suppliers certificate.

The expiry date of the contract is the 5th. The seller needs to deposit the metal at the exchange approved vault by the 5th of the expiry month. Pay in and pay out of the metal would happen on the 6th of the expiry month.

Both the seller and the buyer can express intent. The seller has the choice to give an intention on any day between 1st and 4th. The buyer will have to pick up metal in case the same is allocated to him even if there was no intention given by buyer.

Happens randomly

The after expiry