Massive Single Day Delivery of Silver on India Silver Futures Exchange — 2.6M Ounces

• Silver delivery may top Rs 700 cr on MCX
  by https://economictimes.indiatimes.com/
  Mumbai: The recently-concluded silver futures contract on stock exchange  MCX NSE 0.08 % has witnessed a delivery intention of 80.85 tonnes worth a whopping Rs 545 crore in what could be a record for a single day. It is not clear whether the seller is one or many but the delivery would happen amid tepid physical demand for silver, said market analysts.
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  While an MCX official was not immediately available for comment, the exchange data show delivery intention of 80,850 kilos valued at Rs 67,422 a kilo on March 1 in Ahmedabad. The contract expired on March 5. Actual delivery details will be released by the exchange clearing corporation in due course. Data through March 1-4 show intention to deliver Rs 725 crore worth of the metal in the March contract.
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  “Anecdotally, intention to deliver results in actual delivery almost always,” said Amit Modak, CEO, PN Gadgil & Sons. “Seldom, if at all, has such an intention been ….
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Shanghai’s 🇨🇳 Silver Invenotry Dropping ⏬:

SHFE: #silver inventory stored reduced by 🔻70,000kgs last week

SGE: silver inventory stored reduced by 🔻42,000kgs in last week of published data

Shanghai’s vaults reduced silver by 112K kg (4 M Oz) in 1 wk#silversqueeze $PSLV pic.twitter.com/3Z3tny6Jp2

— Laowai Koala 🐨 (@Laowai_Koala) March 9, 2021

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