Now Reading: Gold derivatives turnover exceeds Rs 2.2 lakh crore daily
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Gold derivatives turnover exceeds Rs 2.2 lakh crore daily
India's gold derivatives market has crossed an average daily turnover of Rs 2.2 lakh crore, with physical gold deliveries through exchanges reaching about 175 tonnes since 2003, according to a report titled Gold Derivatives, Deepening the Market and the Road Ahead in India. Gold options accounted for the bulk of trading activity in FY2025-26, with average daily notional turnover of Rs 1.94 lakh crore, compared with Rs 28,484 crore for futures. Average daily options volume stood at 156 tonnes, against 23 tonnes for futures.
Separately, gold prices in futures trade on the Multi Commodity Exchange were flat on Thursday at Rs 1,59,650 per 10 grams, down Rs 13 from the previous close, amid muted spot demand. Earlier in the session, prices dropped as much as Rs 2,971 to Rs 1,56,692 per 10 grams. Globally, gold futures edged up 0.23 per cent to USD 4,601.64 per ounce in New York. The report calls for wider institutional participation, including banks and FPIs, to deepen the market further.
Indian Opinion Analysis
Businesstoday.in treats the gold derivatives market as a success story, a deepening market with growing options, physical deliveries, and domestic price discovery. Telanganatoday.com reports a routine flat trading session with subdued demand, offering no context of market depth. The first outlet omits short-term price weakness entirely, the second ignores the scale of the derivatives ecosystem. The balanced reading: gold derivatives are expanding structurally, but spot demand remains soft, creating a disconnect between the financial and physical markets. The Multi Commodity Exchange's October contract price will signal whether weak demand persists.
Coverage: 2 sources, 2 neutral
Sources (2): businesstoday.in (neutral report), telanganatoday.com (neutral report)
This brief was synthesised by AI from the 2 sources linked above, so one read covers every framing they carry. Methodology and corrections.
Updated: this story now draws on 2 sources.
