Gold Mini represents a mid-range futures contract available on India’s Multi Commodity Exchange (MCX), featuring a more manageable lot size of 100 grams. This makes it more accessible compared to the standard Gold contract, which has a lot size of 1000 grams.
The futures contracts Gold Petal, Gold Mini, and Gold on India’s MCX each represent one gram, one hundred grams, and one kilogram of gold, respectively. They range in size from small retail investors (Gold Petal), mid-level investors (Gold Mini), to large institutional traders (Gold), depending on the investor’s level of investment capacity.
Contents:
- What Is Gold Mini Mcx?
- Gold Mini Futures Symbol
- What is the difference between gold and gold mini in MCX?
- Contract Specifications – Gold Mini
- How To Buy Gold Mini In Mcx?
- Quick Summary
- FAQs
What Is Gold Mini Mcx?
Gold Mini is a middle-sized option on India’s MCX; the lot size of gold mini is just 100 grams. It’s bigger than Gold Petal, where the lot size is just 1 gram of gold, and smaller than the regular Gold contract, whose lot size is a hefty 1000 grams.
Gold Mini Futures Symbol
The trading symbol for Gold Mini futures on MCX is GOLDM. This symbol is used across trading platforms and is recognized globally.
| Contract Name | Symbol | Exchange |
| Gold Mini | GOLDM | MCX |
What is the difference between gold and gold mini in MCX?
The primary difference between gold and gold mini in MCX lies in the contract size. Standard gold futures contracts (symbol: GOLD) represent 1 KG of gold, while Gold Mini contracts (symbol: GOLDM) represent only 100 grams of gold.
| Parameter | Gold | Gold Mini |
| Contract Size | 1 KG | 100 Grams |
| Symbol | GOLD | GOLDM |
| Tick Size | ₹1 | ₹1 |
| Quality | 995 purity | 995 purity |
| Trading Time | 9 am to 11:30 pm/11:55 pm | 9 am to 11:30 pm/11:55 pm |
| Delivery Center | MCX-accredited delivery centers | MCX-accredited delivery centers |
| Expiry Date | 5th day of contract month | 5th day of contract month |
Contract Specifications – Gold Mini
The Gold Mini, symbolized as GOLDM, is a futures contract available on the Multi Commodity Exchange (MCX) of India. Each contract represents 100 grams of 995 fineness gold, with the price quoted per 10 grams. It’s tradable from Monday to Friday, 9:00 AM – 11:30 PM/11:55 PM during daylight saving, with a maximum order size of 10 Kg.
| Specification | Details |
| Symbol | GOLDM |
| Commodity | Gold Mini |
| Contract Start Day | 6th day of the contract launch month. If the 6th day is a holiday, then the following business day |
| Expiry Date | 5th of the contract expiry month. If the 5th is a holiday, then the previous business day |
| Trading Session | Monday to Friday: 9:00 AM – 11:30 PM/11:55 PM (Daylight saving) |
| Contract Size | 100 grams |
| Purity of Gold | 995 fineness |
| Price Quote | Per 10 grams |
| Maximum Order Size | 10 Kg |
| Tick Size | ₹1 |
| Base Value | 100 grams of Gold |
| Delivery Unit | 100 grams (Minimum) |
| Delivery Centre | At all Delivery Centers of MCX |
How To Buy Gold Mini In Mcx?
Buying a Gold Mini contract in MCX involves a simple process that follows these steps:
- Open a trading account with a broker that has access to the MCX.
- Complete the necessary KYC (Know Your Customer) process.
- Deposit the required margin in your trading account.
- Use the trading platform provided by your broker to locate the Gold Mini futures (GOLDM).
- Decide the number of contracts you wish to buy based on your investment strategy and the available margin.
- Place the buy order and monitor your position regularly.
We hope that you are clear about the topic. But there is more to learn and explore when it comes to the stock market, commodity and hence we bring you the important topics and areas that you should know:
| Gold Guinea |
| Silver Micro |
| Gold Petal |
| Zinc Mini |
| Aluminium Mini |
| Crude Oil Mini |
| Silver Mini |
| Natural Gas Mini |
| What is Primary Market? |
| What is Options Trading? |
| What is an ETF? |
| Stock Market Analysis |
Gold Mini – Quick Summary
- Gold Mini is a smaller-sized futures contract traded on the MCX, with the underlying asset being 100 grams of gold.
- It uses the trading symbol GOLDM across platforms and globally.
- Gold Mini and standard gold futures differ primarily in contract size, with the former being a tenth of the latter, facilitating lower investment thresholds.
- Buying Gold Mini contracts in MCX involves opening a trading account, completing KYC, depositing margins, and placing orders via a broker’s platform like Alice Blue.
- Start your investment journey with Alice Blue. AliceBlue’s 15 Rs brokerage plan can help you save more than ₹ 1100 in brokerage fees every month. They also don’t levy clearing charges.
Mcx Gold Mini – FAQs
1. What Is Gold Mini Mcx?
Gold Mini MCX is a specific type of futures contract traded on the Multi Commodity Exchange of India, wherein the underlying asset is 100 grams of gold.
2. What is the lot size of a gold mini in MCX?
The lot size, or contract size, of a Gold Mini in MCX is 100 grams. This is significantly smaller than the standard gold futures contract, which is 1 KG.
3. What is GoldM in MCX?
GoldM is the trading symbol for the Gold Mini futures contract on the MCX.
4. What is the symbol for mini gold futures?
The symbol for mini gold futures, specifically the Gold Mini contract on the MCX, is GOLDM.
