MCX Gold Option Explanation

What is an Gold option?

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Options are of two types, calls and puts.

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 A call option gives the customer the right to purchase the product at a fixed price on a fixed date.

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A put tells the right to sell the product similarly.

Arun Jaitley introduces MCX Gold options

Finance Minister Arun Jaitely introduces Gold options trading on well known Commodity MCX saying it is a step forward towards specifying trading in Gold. 

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These trading Options are another way which gives buyer a right to buy or sell a necessary product or instrument at a different price on or before a specific date.

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"This is very important growth in trading of gold. It protects traders from all risks by giving traders the option to them. Indians love buying gold. This new product will be extremely successful. I am sure more it is simplifies, it will be best for consumers, jewellers and those trading in this." said Jaitley after launching the options trade on the auspicious day of Dhanteras yesterday.

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Ashok Lavasa Bibek Debroy, Saurabh Chandra and Mrugank Paranjape were also present at the event.

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MCX is the best commodity in the country with a market share of over 90 per cent. It deals in gold, base metals, and energy.