MCX hikes gold, gold mini options strike intervals from ₹100 to ₹500

The Multi Commodity Exchange of India (MCX) has announced changes to the strike price intervals for its Gold and Gold Mini options contracts.

According to a circular issued by the exchange, the strike price interval for both Gold (1 kg) options and Gold Mini (100 grams) options on futures will be revised from ₹100 to ₹500. The modification will take effect from January 30, and will apply to contracts that are running as well as those yet to be launched.

The exchange stated that the updated contract specifications and trading parameters will be binding on all members and constituents trading through them. Members have been advised to refer to the latest circulars issued by the Multi Commodity Exchange Clearing Corporation Limited (MCXCCL) for applicable margins.

Meanwhile, market sentiment for precious metals remains strongly bullish amid global uncertainty.

Aksha Kamboj, Vice President of the India Bullion & Jewellers Association (IBJA) and Executive Chairperson of Aspect Global Ventures, said, “Gold is rising sharply as the safe-haven metal sees strong buying. Investor nervousness, reinforced by the Economic Survey’s expectation of sustained higher levels for precious metals, supports the uptrend. Silver continues to gain due to strong investor demand and optimism

about industrial use, with volatility expected but overall momentum remaining firm.”

On Friday (January 30), gold prices edged lower, with spot gold down 0.9% at $5,346.42 per ounce, while US February gold futures rose 1.3% to $5,390.80 per ounce. Spot silver fell 0.2% to $115.83 per ounce, after hitting record highs earlier in the week.