According to Shahr -e- Bourse, based on the new directive from market management, all real and legal entities now face a strict barrier: No one is allowed to purchase more than 5 kilograms of silver certificates.
Details of the New Silver Trading Restrictions (January 2026)
| Subject | New Regulation Details |
| Purchase Limit | Maximum 5,000 Certificates per trading code |
| Weight Equivalent | Maximum 5 Kilograms of silver bullion |
| Restricted Parties | All Individuals (Real) and Companies (Legal entities) |
| Exemptions (White List) | 1. Silver Commodity Funds (ETFs) 2. Official Market Makers |
| Asset Backing | 1 Certificate = 1 Gram of Standard 1kg Bullion (999.9) |
What is the Market Signal?
1. End of Heavy Personal Accumulation:
Previously, investors could purchase and hoard large amounts of silver via deposit certificates. With the “5,000-unit cap,” the hands of large players (whales) are effectively tied regarding direct trades.
2. Forced Migration to ETFs:
The key takeaway is the exemption of Investment Funds. The IME is sending a clear signal to the market: “If you want to invest heavily in silver, do not buy certificates directly; buy the Fund units instead.”
3. Controlling Speculation:
This decision is likely aimed at curbing speculation on deposit certificates and preventing price bubbles (Gaps) between the exchange price and global silver prices.
