Gold is one of the oldest and well-known products used for investment in the history of human existence. The investments in gold have traditionally been to hedge against inflation. For majority of the diversified investment funds, gold is a must have product in the portfolio.
DGCX Gold futures contract provides the international benchmark pricing Gold contract for investors, speculators, hedgers and arbitragers. Gold futures contract was the first contract launched on DGCX platform in 2005 and has traded more than 5.4 million lots since then.
- Trade your views on the International benchmark Gold prices
- Arbitrage opportunity with the highly correlated gold contract based on Indian and other international benchmark prices.
- Benefit from margin offset provided by DCCC for inter-commodity spreads
- Low cost structure
- USD denominated, Intention matching mechanism for delivery
- Lot size of 32 troy ounces (Approx. 1 KG)
- Tick size of USD 0.10 per troy ounce and tick value of USD 3.2
- Efficient margining for optimal leverage
- 6 contract months (covering approximately a calendar year) available at any given point of time
- Live prices available under marketwatch link on DGCX website
Contract Parameters Contract Symbol DG Underlying Gold Contract Size 32 troy ounces. (1 kg) Notional Contract Value 32xGold Price quote in USD pr troy ounces Trading Currency USD Settlement Currency USD Price Quote USD per Troy Ounces Tick Size USD 0.1 Tick Value USD 3.2 Settlement Basis Physical Delivery Last Day of Trading Third last business day of the month preceding the Delivery Month Trading Days Monday through to Friday Trading Hours DGCX Trading Hours Trading Months Feb, Apr, Jun, Aug, Oct and Dec New Contract Listing Business day immediately following last trading day Max Order Size 200 contracts Initial Margin based on SPAN USD 1,400 per lot (subject to change) Calendar Spread Margin Depending upon each class of asset, spread position margin (Calendar spread margin) is charged using the SPAN framework. In case of Gold, 100% benefit is offered on calendar spread margins Extra Margin In time of high volatility, an extra margin as deemed fit by the Exchange may be imposed on all open positions Delivery Margin Five (5) times of the Initial Margins Daily Price Movement limit No Limits* Note 1*: For the avoidance of "fat finger" errors, price band shall be USD 20 from previous settlement price e.g. if previous settlement price is USD 1,200 then the price band is from USD 1,180 to USD 1,220. If price breaches the daily price movement limit, trading in particular contract shall continue, with the new trading price range without any cooling period Delivery Mechansim Details Delivery Unit 31.99 troy ounces (1kg) cast in one bar, accompanied by the original Refiner's Certificate Deliverable Quality 0.995 Fineness Exchange of Futures for Physical (EFP) EFP (Exchange of Futures of Physical) - a mechanism to exchange Futures for Spot, and Spot for Futures will be available Approved CMI / Assayers Names as listed on the DGCX/DCCC websites Approved Brands Names as listed on the DGCX/DCCC websites Approved Refiners Names as listed on the DGCX/DCCC websites Approved Vaults Names as listed on the DGCX/DCCC websites Delivery Period First Day of the Delivery Month Notice Day Last Day of trading of the Delivery Month Delivery Process The Matching of Buyers and Sellers for Gold delivery will be completed on a time priority basis upon receipt of their Tender/ Delivery Notices Vault Charges Rates applicable as published on the DGCX website Daily Settlement Price As per DGCX Notice # COMP-2008-014 dated April 22, 2008 Delivery Instrument Warrant Option for Cash Settlement Open Positions that have not been closed out on the Last Day of Trading are subject to cash settlement as per gold cash settlement price declared by the Exchange
Expiry Month Expiry Code Last Trading Day Notice Day Delivery Day Dec'18 DG-20181128 28 Nov 2018 28 Nov 2018 29 Nov 2018 Feb'19 DG-20190129 29 Jan 2019 29 Jan 2019 30 Jan 2019 Apr'19 DG-20190327 27 Mar 2019 27 Mar 2019 28 Mar 2019 Jun'19 DG-20190529 29 May 2019 29 May 2019 30 May 2019 Aug'19 DG-20190729 29 Jul 2019 29 Jul 2019 30 Jul 2019 Oct'19 DG-20190926 26 Sep 2019 26 Sep 2019 27 Sep 2019