Amid low spot demand, bullion traders opt to make delivery on MCX

By Sidhartha Singh

MUMBAI: Low demand in the spot market has resulted in Rs 77.98 crore of gold being delivered on the exchange platform, according to a trade official.
Traders gave delivery of Rs 61.75 crore of kilo gold bars and Rs 16.23 crore worth of 100 gm bars in the recently expired June gold contract on commodity bourse MCX.

“Bullion dealers and other traders who imported on consignment basis thought it expedient to deliver on MCX, given the rather low demand for jewellery at this time of year,” said Ketan Shroff, spokesperson for Indian Bullion and Jewellers' Association.

Meanwhile gold for August delivery on MCX was trading up 0.24% at Rs 26,786 per 10 gm on Monday.