India's MCX to launch Silver 1000 contractNEW DELHI(BullionStreet): India's leading commodity exchange, the Multi Commodity Exchange (MCX) announced the launch of two innovative contracts including Silver 1000.
In a statement, MCX said "Silver 1000 is a first of its kind innovative deliverable 1 kg silver contract with New Delhi as the base delivery centre.
With New Delhi being one of the largest consumers of silver in India, this contract will cater to the needs of small jewellers and retail investors, who wish to take physical delivery of 1 kg silver bar in demat or physical form, said the statement.
"With the festive season approaching, Silver 1000 contract is an ideal offering," MCX managing directory and CEO Shreekant Javalgekar said.
Silver 1000 will meet the needs of physical market participants and retail investors. It will enable them to take delivery of 1-kg silver bar at lower margins, compared to the hitherto 30-kg bars,” added Javalgekar.
https://www.bullionstreet.com/news/indias-mcx-to-launch-silver-1000-contract/2985
In what could prove to be a game changer for the cartel, India’s Multi Commodity Exchange (MCX) announced Thursday the launch of 2 new silver contracts, including a contract for deliverable 1 kg silver bars.
No longer will Indian traders have to mess with Western futures exchanges where physical metal delivery is difficult and strongly discouraged for obvious fractional reason.
This could have MASSIVE implications on the extremely tight PHYSICAL silver market, as the Indian market will now begin to set the price for PHYSICAL SILVER…first in Asia, and then rapidly throughout the rest of the world as the paper futures markets fade into irrelevance as traders take their business to more open and honest exchanges.
https://www.silverdoctors.com/indias-mcx-to-launch-silver-contract-deliverable-for-1kg-bars/#more-14605