MCX' first option contract in gold fully settled

Leading commodity bourse MCX today said it has successfully settled its first option contract in gold.
On October 17, the exchange had launched two options contracts in gold for expiry in November and December, respectively.
As per official statement, the MCX said the first contract in gold expired on November 28. The contract has been settled successfully.
The option contracts have gold (one kg) futures contracts as underlying. That means option contracts are converted to futures on the day of expiry.
"On the day of option's expiry, the underlying gold futures contract (December) closed at Rs 29,393 per 10 grams," the exchange said.

Nearly 60 per cent of the registered members had participated in gold options, it added.