The trading in bullion derivatives at India's largest commodity exchange Multi Commodity Exchange (MCX) recorded its highest daily turnover at Rs 35,112.35 crore on March 16 since the introduction of commodities transaction tax (CTT) in 2015.
The volume of the contracts for gold futures was 55.849 metric tonnes (MT) valued at Rs 22,207.33 crore, while silver futures was 3,504 MT valued at Rs 12,905.02 crore.
Similarly, the turnover for gold options was at one and a half year high at at Rs 3,917 crore (9.49 MT).
The spurt in gold options indicates its emergence as the most capital-efficient insurance tool.
On April 15, 2013, MCX turnover had touched Rs 1,19,941 crore, its previous lifetime high.
In the international market, gold prices are down 2.8 percent or $42.8 at $1,486.50 per troy ounce year-to-date after giving a return of 16.23 percent in US dollar term in 2019, the second-best performance by the yellow metal in this decade (in dollar terms) after 2010. The white metal is down 28.73 percent or $5.15 to $12.77 per troy ounce year-to-date after giving a return of 17.58 percent in last year.
The yellow metal ended 2019 with a gain of 23.74 percent in rupee terms and approximately 19 percent in dollar terms. This is the second-best performance by the yellow metal in this decade (in dollar terms) after 2010. While Brent crude ended 2019 with a gain of 27.84 percent.
MCX had reported a 32 percent increase in net profit at Rs 55.57 crore for the December quarter 2019. Its net profit stood at Rs 41.99 crore in the year-ago period.
MCX shares closed at Rs 1,054.80, down 3.69 percent on the BSE.
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