Home CommodityGOLDM

GOLDM

1,54,210.00

294.00 (0.19%)

as on 10 Sep 2026 at 01:25 PM

MCX

Upcoming Expiry05 Oct

Days For Expiry26

GOLDM

1,54,210.00

294.00 (0.19%) profit

as on 10 Sep 2026 at 01:25 PM

MCX

Options Open Interest Top Contracts Futures 15-Mins Built Up

Live Chart

GOLDM Futures Snapshot

Monthly Contracts	Days for Expiry	LTP	Change	Change %	Volume	Open Interest	OI Change %
GOLDM OCT FUT	26	1,54,210.00	294.00	0.19	10,305	31,820	1.80
GOLDM NOV FUT	57	1,55,010.00	343.00	0.22	1,544	8,324	0.08
GOLDM DEC FUT	86	1,55,685.00	249.00	0.16	518	7,297	-1.12

About GOLDM Futures

Gold in India carries weight beyond its price. It sits in bank lockers, wedding trunks, and temple vaults. Families buy it during festivals. They sell it during emergencies. That cycle makes gold one of the most liquid commodities on MCX.

GOLDM is the mid-sized contract. Each GOLDM contract represents 100 grams of gold quoted per 10 grams. The price tracks Ahmedabad spot rates. It sits between the 1 kg GOLD contract and the 8 gram GOLDGUINEA.

Traders who want meaningful exposure without full GOLD margin choose GOLDM. Contracts are rupee-denominated and settled daily. You don't have to purchase real gold bars or jewellery for exposure. GOLDM is a 100 gram contract. You're paying a lower margin on the 1-kilogram GOLD contract. The daily contract of MTM is settled in Rupees. Any changes in the prices of gold are being traded directly.

Factors influencing GOLDM futures prices

GOLDM futures price moves on global spot rates and USD/INR shifts. Festival demand and import duty changes add pressure. Several forces drive the price on any given day:

Global gold spot rates: Prices for gold internationally are quoted in US dollars per ounce. The London Bullion Market Association (LBMA) is responsible for setting the benchmark. GOLDM futures move in lock-step with world spot rises. Domestic futures move lower on spot falls.

USD/INR exchange rate: GOLDM futures are quoted in Rupees. The currency of global gold trades is dollars. GOLDM futures are expected to go up even if the world gold price remains unchanged if the rupee depreciates against the dollar. A higher rupee value can limit the gains at home.

Domestic demand cycles: The demand for gold in India is high during Akshaya Tritiya, Dhanteras, and during the wedding season. Jewellers, in advance of such occasions, stock up. Physical premiums increase in Ahmedabad, Mumbai, and New Delhi. This raises the price of futures above the global level.

Central bank reserves: The RBI buys gold in its reserves on a regular basis. Domestic supply constricts when there is a big sale. Influencing sentiment is also the job of global central banks. Strong demand from China and/or Turkey supports prices in all markets.

Geopolitical uncertainty: Global conflicts, currency crises, and equity selloffs trigger safe-haven buying. These flows lift gold futures quickly. The effect shows in GOLDM futures live even when local physical demand is stable.

Government import policy: India imports most of its gold. Changes in import duty will affect landed costs immediately. Domestic prices rise above world levels due to higher duties. Reducing responsibilities reduces the disparity. Futures are ahead of the policy announcements, and physical markets follow.

How are GOLDM futures prices determined?

The GOLDM futures price is not arbitrary. It links to the Ahmedabad spot market through a defined structure.

The Due Date Rate (DDR) or Final Settlement Price (FSP) is based on polling. The exchange calculates the final settlement price using a specific rule. It takes the simple average of the last polled spot prices from the last three trading days.

These are expiry day (E0), the day before (E-1), and two days before (E-2). If either E-1 or E-2 is unavailable, the exchange expands the lookback. It then uses E0, E-1, E-2, and E-3, whichever of these are available.

Between spot and futures, the gap reflects financing cost, storage, and market sentiment. When futures trade above spot, the market is in contango. When below, it is in backwardation. This spread tells you about immediate supply tightness or comfort.

Key metrics to consider while trading GOLDM futures

These numbers define how the contract behaves. Know them before you place a trade.

Lot size: 100 grams. One contract of GOLDM represents 100 grams of gold. This sits between the 8-gram GOLDGUINEA and the 1-kg standard GOLD contract.
Tick size: Re. 1 per 10 grams. Each tick move changes the contract value by exactly Re. 10.
Contract start day: 6th day of the contract launch month. If the 6th day is a holiday, the following working day.
Contract expiry: 5th of the contract expiry month. If the 5th is a holiday, expiry shifts to the preceding working day.
Initial margin: Minimum 6% or based on SPAN, whichever is higher. This is the margin required to open a position.
Extreme loss margin: Minimum 1%, collected on top of the initial margin.
Additional and special margin: In case of additional volatility, the exchange may impose additional margin on both buy and sell sides, or special margin on either side.
Daily Price Limit (DPL): 3% circuit breaker. If breached, relaxation goes up to 6% without any cooling off. If 6% is also breached, a 15-minute cooling off applies before expanding to 9%. If international markets move beyond 9%, further relaxation happens in steps of 3%.
Maximum order size: 10 kg. You cannot place a single order beyond this quantity.
Open Interest (OI): Total outstanding contracts. Rising OI with rising prices shows fresh buying. Rising OI with falling prices shows fresh shorting.
Delivery: Compulsory on expiry. All open positions at expiry are marked for delivery. Staggered delivery runs on the last 3 trading days, including the expiry day.
Maximum open position: Individual clients face a cap of 5 MT or 5% of market-wide open position, whichever is higher, for all gold contracts combined. Members face 50 MT or 20%, whichever is higher, for all gold contracts combined.
Quality specifications: 995 purity, serially numbered gold bars supplied by MCX empanelled domestic refiners as per BIS Standard Gold, LBMA approved suppliers, UAEGD gold refiners, or other suppliers approved by MCX, with the supplier's quality certificate.
999 purity premium: If a seller delivers 999 purity gold, the sale proceeds are calculated as Rate of delivery * 999/995. If the quality is below 995, delivery is rejected.

How to read GOLDM futures data?

On the GOLDM futures page at Dhan, several data points appear. Each one adds a layer to your read.

GOLDM futures live price: This shows the current traded level of the most active contract. It is where buyers and sellers are matching right now.

GOLDM futures today data: This includes open, high, low, and last traded price. The difference between high and low shows intraday volatility.

GOLDM futures chart: This plots historical price action across timeframes. You can view 1-minute, 5-minute, 15-minute, daily, weekly, or monthly charts. Traders use these to spot support, resistance, and trend direction.

Volume: This is the number of contracts traded in the session. A price move on high volume carries more weight than one on thin volume.

OI: This tells you how much capital sits in open positions. If price rises and OI rises, the trend has backing. If price rises and OI falls, the move may be short-covering.

Bid-ask spread: This is the gap between the best buy and sell prices. A narrow spread means the contract is liquid. A wide spread signals lower activity.

Benefits of trading GOLDM futures

This contract offers specific advantages over physical gold or other gold futures contracts.

Mid-sized contract: At 100 grams, GOLDM suits traders who want meaningful gold exposure without the capital needed for a 1-kg standard contract. It is larger than the 8-gram mini but smaller than the benchmark.

Direct price participation: You track Ahmedabad spot gold without buying physical bars, coins, or jewellery. No storage risk. No purity doubt.

Leverage: You control a 100-gram gold position with a margin deposit. This frees capital for other trades. Remember, leverage raises both profit and loss potential.

Hedging: Jewellers, bullion dealers, and gold loan companies can lock in purchase or sale prices. A jeweller expecting to buy gold next month can go long now to fix the rate.

Transparency: MCX is SEBI-regulated. Prices are public. Settlement rules are fixed. Counterparty risk sits with the clearing corporation, not your trading partner.

Liquidity: GOLDM is an active contract on MCX. Entry and exit are smooth during market hours.

Most commonly used strategies in GOLDM futures

This contract is traded with various objectives. These are the most common methods.

Directional trading: If you think the price of gold will increase, enter a buy trade. Short if it is a fall. This is the easiest way to do it. Consider using stop-losses to limit downside risk.

Calendar spreads: Purchase one month and sell another month. In fact, you only make money on the spread instead of the actual price movement. This has less margin and less volatility than outright positions.

Hedging by jewellers: If a jeweller has many orders, he/she can purchase GOLDM futures to secure the cost of raw materials. When physical gold goes up, the futures also go up to offset the increased price of the physical gold that it is representing.

Basis trading: Any trading that involves the trading of the gap between MCX futures and the Ahmedabad spot. As the basis expands beyond normal, it could pull back. This requires knowledge of the local supply and currency effects.

Range trading: Identify resistance and support levels on the chart, and wait for the price to touch them to enter the market. This is applicable in a sideways market. It gives up if gold breaks out sharply.

How to trade GOLDM futures on Dhan?

Open your account: Create a commodity trading account on Dhan and complete full KYC with a registered broker. Ensure the MCX commodity futures segment is activated separately from your equity account.
Add funds: Add money to your trading account and ensure sufficient margin is available for your GOLDM futures positions. Dhan displays margin requirements clearly before order placement.
Pick your contract: Choose the GOLDM futures contract based on your preferred expiry. Near-month contracts carry the highest liquidity. Each lot represents 100 grams.
Read the market data: Analyse the GOLDM futures live price alongside open interest, volume, and price trends before entering a position. Review live contract details directly on the instrument page under MCX commodities.
Place your trade: Execute your order using the appropriate order type. Market orders fill at the current price. Limit orders execute only at your specified price. The maximum order size is 10 kg.
Track your position: Monitor GOLDM price movements, OI shifts, and MTM adjustments actively through the session. The contract is sensitive to global gold moves and USD/INR fluctuations.
Adjust when needed: Modify or exit positions based on market developments, price behaviour around key levels, and your original strategy parameters. Set stop loss levels that align with your risk capacity.
Know the contract type: GOLDM commodity futures follow a daily MTM settlement model. Profits and losses settle in your account after every trading session. Delivery is compulsory on expiry unless you square off before.

Tips for trading GOLDM futures effectively

These practices help you manage risk and read the market more clearly.

Track USD/INR alongside global gold: If the gold price in the international market is not moving, GOLDM prices can rise due to the depreciation of the rupee. Half of the equation is currency moves.
Be alert for announcements about the import duty: The government varies the gold import duty according to the level of trade deficit and currency stability. Any adjustment is significant enough to have an impact on the domestic price.
Keep a watch on the spot premiums in Ahmedabad: Local rates can be higher or lower and indicate the strength of demand there. Futures tend to move up when there are high premiums before festivals.
Understand staggered delivery: The compulsory delivery marking will be for the last 3 trading days. On tender days, the closing price (weighted average of the last half an hour) of the delivery order rate will be used. On expiry, it is the DDR based on a three-day polled average. If you're not ready to take the plunge into physical changes, cut contact before this time.
Adhere to the daily price limits: Locking you in temporarily is possible when you're using the 3%-6%-9% circuit breaker system. Make trades that are big enough not to be margin stressed when hit by a limit.
Apply the GOLDM futures chart on various time frames: The daily chart may have a different trend from the 15 minute chart. Align them both before putting down money for them.
Avoid overleveraging: Exposure is meaningful at 100 gram lot size, and can be achieved with moderate capital. Do not risk more than a certain percentage of your capital on any one trade.

FAQs

What is 1 lot size of GOLDM futures?

1 lot of GOLDM Futures on MCX is 10.

What is the trading time for GOLDM futures?

The trading time of GOLDM futures is:

April to October - 9:00 AM to 11:30 PM
November to March - 9:00 AM to 11:55 PM

When is the upcoming GOLDM futures expiry?

The upcoming futures expiry of GOLDM on 05 Oct 2026.

Are GOLDM futures settled in cash or via physical delivery?

At the end of the day, all the positions are auto squared off. Meaning, the derivatives are settled in cash. At present, the physical delivery of Commodity position is not allowed.