MCX Expands Gold Futures Delivery Framework

The Multi Commodity Exchange of India (MCX) has expanded its Good Delivery framework for gold futures by approving additional domestic refiners and broadening the range of eligible bullion products. This move aims to increase the availability of approved bullion for physical delivery across MCX’s gold futures contracts. The revised framework will come into effect from July 13, 2026.

MCX has empanelled three new domestic refiners — M.D. Overseas, Kundan Refinery, and Zaveri and Company. Their approved gold products will now qualify for delivery against MCX gold futures contracts, subject to specific approvals related to each refinery and product. The exchange has also expanded the eligibility of existing refiners under its Good Delivery framework. Titan Company will now be permitted to supply 1 kg gold bars in addition to its existing eligibility for Gold Mini contracts.

The expansion of the Good Delivery framework is part of MCX's continued efforts to strengthen the ecosystem for exchange-traded bullion. The exchange had earlier expanded the framework to include suppliers approved by the London Bullion Market Association (LBMA) as well as select UAE Good Delivery refiners. The changes have been implemented in accordance with the regulatory framework prescribed by the Securities and Exchange Board of India (SEBI) for commodity derivative contracts.

By increasing the number of approved suppliers and expanding eligible bullion categories, MCX aims to improve liquidity, enhance delivery efficiency, and provide greater flexibility to participants in the gold futures market. The revised framework will allow bullion manufactured by newly approved refiners and existing refiners with expanded eligibility to be used for delivery across MCX’s key bullion contracts, including Gold (1 kg), Gold Mini (100 grams), Gold Ten (10 grams), Gold Guinea (8 grams), and Gold Petal (1 gram) futures.

The move is expected to strengthen market participation by providing more options for meeting delivery obligations. MCX's efforts to expand its Good Delivery framework are seen as a positive step towards increasing transparency and efficiency in the gold futures market. With the revised framework, participants can expect improved liquidity and greater flexibility in managing their gold futures contracts.

In the coming days, market participants will be closely watching the impact of the revised framework on the gold futures market. The expansion of the Good Delivery framework is likely to lead to increased participation from domestic refiners and improved delivery efficiency, ultimately benefiting the overall market. As the gold futures market continues to evolve, MCX's efforts to strengthen its Good Delivery framework are expected to play a crucial role in shaping the market's future.

The changes implemented by MCX are in line with its commitment to providing a robust and efficient platform for trading gold futures. By continually reviewing and updating its Good Delivery framework, MCX aims to maintain its position as a leading exchange for commodity derivatives in India. With the revised framework set to come into effect from July 13, 2026, market participants can expect a more streamlined and efficient process for delivering gold futures contracts.