NSE Gold Futures: The National Stock Exchange of India Limited (NSE) has introduced Gold 10-gram Futures (GOLD10G) in its Commodity Derivatives segment, set to launch on March 16, 2026. The contract will trade from 9:00 am to 11:30/11:55 pm (based on US daylight saving time) and will be quoted on an ex-Ahmedabad basis, with a tick size of ₹1 per 10 grams. It carries a 6% daily price limit, extendable to 9%, and follows compulsory physical delivery of 999 purity gold at designated Ahmedabad clearing centres upon expiry.
KEY FUTURES OF THE NEW NSE GOLD FUTURES CONTRACT
The newly introduced contract, trading under the symbol GOLD10G, is a monthly futures contract with a trading unit of 10 grams.
Trading Details
- Trading Days: Monday to Friday
- Trading Hours: 9:00 AM to 11:30 / 11:55 PM (depending on US daylight saving time)
- Price Quote Basis: Ex-Ahmedabad (inclusive of import duty and customs, excluding GST and additional GST surcharges)
- Tick Size: ₹1 per 10 grams
- Maximum Order Size: 10 kg
The last trading day of the contract will be the last calendar day of the expiry month. If that day falls on a holiday, trading will end on the preceding working day.
NSE has introduced a structured daily price limit mechanism to manage volatility:
- Initial daily price limit: 6%
- If breached, after a 15-minute cooling-off period, limit extended to 9%
- In case of sharp international price movements, limits may be further relaxed in steps of 3%, with prior market notice.
The margin structure includes:
- Initial Margin: Higher of SPAN-based margin or volatility-based minimum margin
- Extreme Loss Margin (ELM): 1%
- Additional or special margins may be imposed during heightened volatility
The detailed clearing and settlement framework will be notified separately by NSE Clearing Ltd.
DELIVERY AND SETTLEMENT SPECIFICATION OF NEW NSE GOLD FUTURES
The Gold 10g Futures contract will be compulsorily settled through physical delivery.
Delivery Details
- Delivery Unit: 10 grams
- Delivery Centre: Designated clearing house facilities at Ahmedabad
- Quality Specification: 999 purity gold, serially numbered, supplied by LBMA-approved suppliers or NSE-approved entities, along with a supplier quality certificate
The delivery period will cover the last three working days, including the expiry day. On expiry, all open positions will be marked for delivery.
Final Settlement Price (FSP)
The exchange will determine the Final Settlement Price based on the Ahmedabad spot price of gold (995 purity), which will be converted to 999 purity using the formula:
Gold Spot Price (995 purity) × 999 / 995
The FSP will be announced around 5:00 PM on the expiry day. In case of emergency physical market closure, NSE will decide the settlement method in consultation with SEBI.
To ensure market stability and prevent concentration risk, NSE has defined position limits:
- For Members (All Clients Combined): 50 MT or 20% of market-wide open position (whichever is higher)
- For Individual Clients: 5 MT or 5% of market-wide open position (whichever is higher)
These limits apply collectively across all gold contracts.
WHEN THIS WILL LAUNCH?
The first contract will launch on March 16, 2026, with April 2026 as the initial expiry month. Subsequent contracts will follow a structured monthly calendar extending up to March 2027.
Market participants are advised to refer to the latest circulars issued by NSE and the clearing corporation for updated information regarding margins, expiry dates, and position limits.
FUTURES CONTRACT FAQs
1. When will NSE Gold 10 Grams Futures start trading?
Gold 10 Grams Futures contracts will be available for trading on the National Stock Exchange (NSE) from March 16, 2026, after receiving approval from SEBI.
2. What is the trading unit of the Gold 10G Futures contract?
The trading and delivery unit of the contract is 10 grams of gold with 999 purity. The contract symbol will be GOLD10G.
3. What are the daily price limits for the contract?
The base daily price limit is 6%. If this limit is breached, after a 15-minute cooling-off period, it can be extended up to 9%. In exceptional cases of sharp international price movement, the exchange may relax limits further in steps of 3%.
4. Is the contract cash-settled or physically delivered?
The Gold 10G Futures contract is compulsorily settled through physical delivery. Delivery will take place at designated clearing house facilities in Ahmedabad.
5. What are the position limits for traders?
For individual clients, the maximum allowable open position is 5 metric tonnes or 5% of the market-wide open position (whichever is higher) across all gold contracts combined. For members (collectively for all clients), the limit is 50 metric tonnes or 20% of the market-wide open position (whichever is higher).
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