MCX good delivery norms – Gold Price Today

MCX Expands Good Delivery Framework for Gold, Empanels Three New Domestic Refiners

Abhishek Singh — Fri, 03 Jul 2026 12:58:51 +0000

The Multi Commodity Exchange of India (MCX) has announced the acceptance of MCX Good Delivery Norms for BIS-standard Gold and Silver for delivery under the existing contract specifications of all gold futures contracts. The Exchange has also expanded its Good Delivery List by including additional refiners empanelled under the revised MCX Good Delivery Norms.

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MCX Issues Circular on Revised Good Delivery Norms

In terms of the provisions of the Rules, Bye-Laws and Business Rules of the Exchange, members of the Exchange have been notified regarding the latest changes.

The revision has been made in accordance with SEBI Circular No. SEBI/HO/CDMRD/DOP/CIR/P/2019/135 dated November 14, 2019, relating to modifications in the contract specifications of commodity derivatives contracts. The announcement is also a continuation of MCX Circular No. MCX/PMT/292/2026 dated May 17, 2026, titled “Revision of MCX Good Delivery Norms for BIS – Standard Gold/Silver.”

Three Domestic Refiners Added to MCX Good Delivery List

As part of the revised framework, MCX has added three domestic refiners that have successfully qualified for empanelment under the revised MCX Good Delivery Norms.

The products manufactured by these refiners will now be eligible for delivery on the Exchange for the settlement of Gold Futures Contracts.

MCX has clarified that the empanelment is both refinery-specific and product-specific, as detailed in Table 1 of the circular.

Expansion of Good Delivery List Across Gold Futures Contracts

The Exchange has also confirmed that the refiners already recognized as Good Delivery suppliers for Gold Mini (100 grams) and Gold Ten (10 grams) Futures Contracts, as listed in the circular, are now eligible to be included in the Good Delivery List for the remaining Gold Futures Contracts specified in Table 2.

Accordingly, gold bars and gold coins produced by these approved refiners will now qualify as Exchange Good Delivery for fulfilling delivery obligations under all currently running Gold Futures Contracts, including:

Gold (1 kg)
Gold Mini (100 grams)
Gold Ten (10 grams)
Gold Guinea (8 grams)
Gold Petal (1 gram)

Aligned With Existing Good Delivery Expansion Process

MCX stated that this expansion follows the same process previously adopted for extending the Good Delivery List across Gold Futures Contracts.

The revised framework also continues to include:

LBMA-approved Gold Suppliers for all Gold Futures Contracts.
Three UAE Good Delivery (UAE GD) Refiners approved for Gold Mini (100 grams) Futures Contracts.

The applicable contract specifications have been provided in Annexure A to Annexure E, as linked in the official circular.

MCX Advises Members to Take Note

The Exchange has requested all members to take note of:

The addition of newly empanelled refiners.
The expansion of the Good Delivery List across all Gold Futures Contracts.

Effective Date

MCX has confirmed that the provisions of this circular will come into effect from July 13, 2026.

About MCX

The Multi Commodity Exchange of India Ltd. (MCX) is India’s leading Commodity Derivatives Exchange and the largest Commodity Options Exchange globally (FIA, 2025). Operational since 2003, MCX has a market share of about 98% in terms of the value of commodity futures contracts traded in financial year 2024-25. With pan-Indian presence, MCX serves as a dynamic platform for the Indian commodity market ecosystem, offering dual advantages of fair price discovery and efficient risk management. It offers trading in a diverse range of commodities, spanning multiple segments including bullion, energy, metals and agri commodities, as well as sectoral commodity indices. The exchange has forged strategic alliances with various international exchanges, as well as Indian and international trade associations.

FAQ’s

1. What changes has MCX announced under the revised Good Delivery Norms?
MCX has approved revised Good Delivery Norms for BIS-standard gold and silver, expanded its Good Delivery List by empanelling three additional domestic refiners, and extended eligibility across all existing gold futures contracts.

2. Which gold futures contracts will benefit from the expanded Good Delivery List?
The revised framework covers all currently traded gold futures contracts, including Gold (1 kg), Gold Mini (100 grams), Gold Ten (10 grams), Gold Guinea (8 grams), and Gold Petal (1 gram).

3. Why has MCX added new domestic refiners to the Good Delivery List?
The newly empanelled refiners have met MCX’s revised Good Delivery standards, allowing their approved gold bars and coins to be used for exchange deliveries, thereby increasing the pool of eligible delivery products.

4. When will the revised MCX Good Delivery Norms become effective?
According to the official MCX circular, the revised Good Delivery Norms and the expanded list of approved refiners will come into effect from July 13, 2026.

5. How will the revised Good Delivery framework impact the Indian gold futures market?
The updated framework is expected to strengthen delivery infrastructure, increase the availability of eligible bullion, improve settlement efficiency, and enhance confidence among traders, refiners, and market participants in MCX’s gold futures ecosystem.

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MCX Good Delivery Norms Revised for BIS-Standard Gold and Silver to Boost Domestic Refiners Participation

Abhishek Singh — Mon, 18 May 2026 12:56:09 +0000

MCX Good Delivery Norms: India’s precious metals market is set for a major structural boost as the Multi Commodity Exchange of India Ltd. (MCX) has revised its Good Delivery Norms for BIS-Standard Gold and Silver. The key objective behind this move is to encourage greater participation from domestic silver refiners, improve delivery efficiency on the MCX platform, and strengthen transparency, liquidity, and standardization in the bullion market.

The revised framework is expected to play a crucial role in modernizing India’s precious metals ecosystem by creating smoother access for eligible domestic silver refiners to participate in exchange-based delivery mechanisms. Industry experts believe the move could significantly enhance confidence and operational efficiency within the organized bullion trade.

Evolution of the Good Delivery Framework on MCX

The framework governing domestic precious metal deliveries is part of an ongoing evolution by the exchange. In terms of the provisions of the Rules, Bye-Laws, and Business Rules of the Exchange, MCX had previously launched its foundational Good Delivery Norms for BIS–Standard Gold and Silver via Circular No. MCX/PMT/216/2022 on April 11, 2022.

While that initial launch established the benchmark for Bureau of Indian Standards (BIS) compliant metals on the platform, the latest 2026 amendments serve as a critical, data-driven update to optimize those existing rules specifically for local silver processing units.

Focus on Greater Participation of Domestic Silver Refiners

One of the primary themes of the revised norms is increasing the participation of Indian silver refiners in the organized commodity trading ecosystem. By simplifying and refining the empanelment process, MCX aims to create a more inclusive and accessible framework for domestic players.

According to the exchange, improved participation from domestic silver refiners will strengthen the supply chain and help create a more robust bullion market infrastructure in India.

The revision is also expected to improve:

Market liquidity in silver trading
Standardisation of bullion quality
Transparency in exchange deliveries
Efficiency in domestic precious metals trade

Official Invitation to Market Participants

Following the formal notification issued to its members, MCX has now actively invited all eligible domestic silver refiners to apply for empanelment under these updated guidelines. The exact, granular mandates concerning financial net worth, technical refinery capacities, and quality testing methods are detailed under Annexure-I of the newly updated Good Delivery guidelines.

Market analysts view this move as a massive win for the ‘Make in India’ initiative within the commodities sector. By integrating more domestic refiners into the mainstream clearing system, the reliance on imported silver bars for exchange settlement is expected to reduce over time, giving local players a highly transparent and authoritative pricing platform.

FAQ’s

1. What are the revised MCX Good Delivery Norms?
The revised MCX Good Delivery Norms are updated guidelines for BIS-standard gold and silver deliveries on the MCX platform. The changes mainly focus on simplifying eligibility and empanelment procedures for domestic silver refiners to improve participation and operational efficiency in the bullion market.

2. Why has MCX revised the Good Delivery framework?
MCX revised the framework to strengthen India’s organized bullion ecosystem, improve delivery mechanisms, increase transparency, and create a more efficient trading environment. The move is also intended to support domestic silver refiners and reduce operational barriers in exchange-based deliveries.

3. How will domestic silver refiners benefit from the new norms?
The revised rules make it easier for eligible domestic silver refiners to become empanelled under the MCX Good Delivery framework. This provides refiners with better access to the exchange platform, transparent pricing mechanisms, and opportunities to participate directly in the organized commodity trading ecosystem.

4. What impact will the revised norms have on India’s bullion market?
The updated norms are expected to improve liquidity in silver trading, strengthen standardization of bullion quality, enhance transparency in deliveries, and create a more reliable domestic supply chain for precious metals. Industry experts believe the move will modernize India’s bullion infrastructure significantly.

5. How does this move support the ‘Make in India’ initiative?
By encouraging more Indian refiners to participate in the formal exchange settlement system, MCX aims to strengthen domestic refining capabilities and reduce dependence on imported silver bars. This aligns with the broader ‘Make in India’ vision of promoting local manufacturing and self-reliance in key industries.