Commodity Futures on MCX
Track live MCX commodity futures prices for Gold, Silver, Crude Oil, Natural Gas, Copper, Zinc, Nickel, and Aluminium on INDmoney. Every contract shows the near-month price, open interest, and change - updated through the 9 AM to 11:30 PM IST trading session. Trade directly from the page with ₹20 flat brokerage and zero activation.
Commodity Futures on MCX
What is MCX?
The Multi Commodity Exchange of India is India's largest commodity derivatives exchange, regulated by SEBI since September 2015. It offers futures and options contracts on commodities spanning metals like gold, silver, copper and aluminium, energy products like crude oil and natural gas, and agricultural commodities. MCX holds around 60% market share in India's commodity futures trading.
How commodity futures work
A commodity futures contract is a standardised agreement to buy or sell a fixed quantity of a commodity at a predetermined price on a future date. The rules - lot size, expiry date, margin, and tick size - are already set by the exchange. Traders only choose whether to buy or sell. You do not take physical delivery of the commodity in most retail trades - positions are squared off before expiry or cash-settled at the DVCAL price.
Bullion futures - Gold and Silver
Gold (1 kg) serves as India's key price benchmark for bullion - used by importers, bullion traders, jewellers, and refiners to hedge against price volatility. Silver follows a similar structure with four contract variants. Both gold and silver contracts are delivery-based - retail traders typically square off before expiry to avoid physical delivery obligations.
Energy futures - Crude Oil and Natural Gas
Crude Oil and Natural Gas are cash-settled against the DVCAL price at expiry. MCX Crude Oil expires on the 19th of the contract month; Natural Gas expires on the last day of the contract month. The extended trading window - 9 AM to 11:30 PM IST in summer and 9 AM to 11:55 PM in winter - allows traders to react to global energy news even after Indian equity markets close.
Base metal futures - Copper, Zinc, Nickel, Aluminium
Base metals are industrial commodities whose prices track global manufacturing activity. Copper, Zinc, Lead, and Aluminium expire on the last day of the contract month and are cash-settled at the DVCAL price. Silver trades in 30 kg lots, copper in 1 tonne, natural gas in 1250 mmBtu, and nickel in 1 tonne.
Margin and contract value
You do not pay the full contract value upfront. A margin - a smaller amount blocked for the trade - is required to open a position. Lot size directly decides the contract value, and the margin is calculated as a percentage of that value. Smaller contract variants (Mini, Micro) require proportionally less margin, making them accessible to traders with smaller capital.
Frequently Asked Questions
On MCX you can trade futures on bullion (Gold, Silver and their variants), energy (Crude Oil, Natural Gas and their Mini contracts), and base metals (Copper, Nickel, Zinc, Aluminium and their variants). INDmoney provides access to 19 active MCX futures contracts.
You do not pay the full contract value. A margin is blocked for the trade — the exact amount depends on the commodity and contract size. Gold Mini futures require less margin than the main Gold contract. Check the margin requirement on INDmoney before placing an order.
It depends on the commodity. Gold and Silver are delivery-based — retail traders must square off before expiry or face physical delivery. Crude Oil, Natural Gas, Copper, Zinc, Nickel, and Aluminium are cash-settled at the DVCAL price on expiry day.
April to October: 9:00 AM to 11:30 PM IST. November to March: 9:00 AM to 11:55 PM IST. The extended session allows traders to react to global commodity markets after Indian equity trading closes.
Commodity futures profits are treated as non-speculative business income and taxed at your applicable income slab rate. STT applies on the sell side. F&O losses can be carried forward for up to 8 years and set off against future business income. Consult a tax advisor for your specific situation.
Mini contracts cover a smaller quantity - for example, Crude Oil Mini covers 10 barrels versus 100 barrels for the main contract. They require proportionally less margin and suit traders with smaller capital, though they may have slightly lower liquidity than the main contract.