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.
India’s leading commodity exchange, the Multi Commodity Exchange (MCX) announced the launch of two innovative contracts including Silver 1000.
NEW 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.
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The lack of any arrests from the 2008 financial crash, plus the MFGlobal scandal has seriously damaged the reputation of US markets. Your money is no longer safe even in a bank account. People will move their money to countries where they know it is safe to do business and where they will not be ripped off. The US and the UK have seriously miscalculated in allowing rampant criminality in the western financial system and will be the big losers here as the big money moves east.
I agree. Money can be moved around the world with a few mouse clicks these days. There is ZERO reason for it to stay anywhere it is not well treated and appreciated. We can add this to the long list of snafus brought about by recent US regimes.
Silver has become more rare than a week ago. As the vise grip tightens, I wonder who will squeal first?
This has the potential to be the nail in the coffin for JPM. Enough physical goes to India and people here will start to get nervous and want physical also.
That could very well happen, Mary. Something else that could happen is that the miners could stop feeding the paper beast and sell only to exchanges that buy and sell REAL silver. With no possibility of delivery, even the fake reason for the paper pushers existence ends.
I don’t think it’s a game changer. In India you can buy Silver in size & there is no tightness in physical market. I keep hearing about this tightness in US & Europe. I have invested in Silver since 2009 kept accumulating due to reasons we all discussed all day but never found about euphoria about Silver investment except Mar 2011 to May 2011.
I think it’s of special note to remember that the 300 year ‘War on Silver’ waged by the Bank of England, had its opening offenses initiated in China and India, where silver was the principal money of those societies and thus the central element of all Asia’s trade. It’s no mere coincidence that in this continuing seige, China and India appear to be re-capturing control of silver’s exchange valuation. Most glaring in this development, was the revelation that the Chinese exchange was headed up by a Rothschilde after the Chinese government ‘outlawed’ all private regional bullion exchanges.
Ignoring the politicised ’zionist’ diversion, we ought to be more guarded in our optimism surrounding these centralizing entities dictating the ‘prices’ of precious metals. These ‘exchanges’ are anti-competitive by their very nature and such arrangement ALWAYS works to manipulate circumstances to the perpetual advantage of a select few ‘elites’. To imagine any different an outcome than more plunder of common folks is just plain willful ignorance borne on gossamar ’hope’.
Perhaps the honorable Doctors might seek out the opinion of Charles Savoie, regarding these Chinese and Indian bullion exchanges. His knowledge and insights are incomparable on this subject and his reflections ought to be tremendously enlightening for us all to contemplate going forward.
There’s already a little tight in physical silver at my local coin shops. One of them has only two ounces of silver for 40$ each in which they were all American Eagles and the other one has only one ounce of silver for 50$ in which it was a Canadian Maple Leaf. That’s it!