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India’s MCX recognises UAE Good Delivery gold in boost to bilateral bullion trade
The decision also reinforces the growing importance of the UAE–India bullion corridor, which has expanded rapidly since the UAE–India Comprehensive Economic Partnership Agreement
- PUBLISHED: Thu 16 Apr 2026, 3:26 PM
Gold bars produced by UAE Good Delivery–accredited refineries have been approved for delivery against 100-gram gold futures contracts on the Multi Commodity Exchange of India, marking a significant step in strengthening confidence in cross-border bullion trade between the UAE and India and reinforcing the Emirates’ status as a trusted global refining hub.
Under the decision, gold bars from UAE refineries that meet the Good Delivery Standard will now be accepted for settlement on MCX’s gold mini contracts, expanding the reach of UAE-refined bullion in one of the world’s largest gold-consuming markets and improving efficiency for traders, jewellers and investors operating across the two countries.
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In simple terms, “Good Delivery” refers to a certification system that confirms a gold bar meets strict international requirements on purity, weight, markings and responsible sourcing. When a refinery is accredited under such a framework, its bars can be traded across exchanges without additional testing or verification. This reduces transaction risks, speeds up settlement and improves confidence among market participants. In practice, it acts as a global quality passport for bullion.
The UAE Good Delivery Standard was introduced to reinforce transparency across the country’s gold supply chains and ensure that locally refined bullion aligns with internationally recognised best practices in sourcing, refining and documentation. Accreditation signals that refineries operate under robust compliance systems covering traceability, governance and technical quality benchmarks.
The recognition by MCX reflects growing global trust in the UAE’s regulatory framework for precious metals and highlights the country’s expanding role in linking gold-producing regions with high-demand markets in Asia.
Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade and Chairman of the Emirates Bullion Market Committee, described the development as a strong endorsement of the UAE’s commitment to responsible sourcing and internationally competitive trade standards.
“The UAE plays a central role in global gold trade, and our commitment to responsible sourcing underpins the trust we have built with partners worldwide. The UAE Good Delivery Standard is a core component of the robust regulatory framework that we have developed to meet, and in many cases exceed, global best practice. The Multi Commodity Exchange of India’s decision to list gold from Good Delivery-accredited refineries is a strong affirmation of the standards that guide our sector,” he said.
The decision also reinforces the growing importance of the UAE–India bullion corridor, which has expanded rapidly since the UAE–India Comprehensive Economic Partnership Agreement that cam into force in 2022. Gold has emerged as one of the fastest-growing components of bilateral non-oil trade, reflecting strong demand from India’s jewellery industry as well as investment flows through organised bullion markets.
Industry experts say the MCX move is likely to simplify settlement processes and improve pricing efficiency for traders dealing in UAE-refined bullion while widening sourcing options in India’s exchange-traded gold ecosystem.
Sajith Kumar PK, chief executive officer of IBMC Financial Professionals Group, said the development represents a meaningful step toward deeper integration between the region’s physical bullion markets.
“This recognition strengthens confidence in UAE-refined bullion and makes cross-border delivery more efficient for traders and investors. It also supports deeper integration between two of the world’s largest physical gold markets,” he said.
More broadly, acceptance of UAE Good Delivery gold by a major international exchange signals increasing alignment between regional regulatory frameworks and global bullion standards. As transparency, traceability and responsible sourcing become increasingly important to investors and regulators alike, the UAE’s certification framework is expected to play a larger role in shaping future trade flows across the international precious metals market.
