suppose we want to buy gold / silver directly from mcx is it possible ?
what exactly is the procedure ?
I just looked at http://www.mcxindia.com/marketoperation/delivery/PDF/PhysicalDeliveryProcedure.pdf
Just taking few lines from the pdf, hope this helps?
Member enters order in to the system which results into a trade for a specific contract
Contract nearing expiry, enters into Tender period
Member interested in delivery gives its intention during Tender period.
On delivery marking date, delivery is allocated/marked
Seller member delivers the commodities in the warehouse
Buyer member makes pay in of funds on scheduled Pay in day.
Payout of funds made to seller member on scheduled pay out date.
Buying member lifts delivery after pay in of funds
which products are “DELIVERABLE” and which are “ONLY CASH SETTLED” ???
obviously as per pdf . if someone shorts crude oil and contract expires … the person is liable to make crude oil delivery … HOW CAN ANYONE ARRANGE CRUDE OIL & from WHERE ? this is seriously concerning .