NSEL to launch E-Silver contract on Wednesday

After successful launch of E-Gold,National Spot Exchange Ltd announced that it will launch E-Silver.

After successful launch of E-Gold,National Spot Exchange Ltd (NSEL) Tuesday announced that it will launch E-Silver,the second in the e-series products designed to promote savings and investment by the masses.

E-Silver will go live from Wednesday. By making silver available in smaller denomination of 100 grams and its multiple,NSEL is targeting millions of investors willing to put their small savings into the white metal,a release said here.

This is a drive towards financial inclusion,as silver is made available at the same price in the entire country for all segments of the society. A small investor,whether based in Mumbai or Sikkim,can buy silver at the same price.

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A small investor willing to put in Rs 5,000 or a HNI (high net worth individual) wanting to invest Rs 5 crore,can buy silver at the same price. Hence,E-Silver is based on the principles of just and impartial treatment to all,it said.

E-Silver will be backed by physical delivery. The precious metal will be stored in the exchange-designated vaults and will be tradeable on the NSEL platform.

The product will also ensure seamless entry and exit as well as transparent pricing to investors. Since it can be traded in denominations as low as 100 grams (valued at around Rs 2,800),it will provide avenue for investment even for lower income group,the release said.

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National Spot Exchange

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