Fri Dec 12 04:30:00 UTC 2025: Here’s a summary of the text, rewritten as a news article:

Silver Prices Skyrocket in Jaipur Amid Speculation and Illegal Trading

Jaipur, India – Silver prices in Jaipur have surged to over ₹1.93 lakh per kilogram on Thursday, fueled by a combination of industrial demand and rampant speculation through the illegal “dabba trading” system, according to a report by Bhaskar. Sources familiar with the matter have indicated that the price may reach ₹2 lakh per kilogram by Friday.

While increased industrial demand plays a role, a significant factor is the presence of dabba trading, an unregulated parallel trading system where individuals can trade in commodities without proper identification or substantial margin money. This system allows for short selling – selling silver without owning it, betting on a price decrease.

Bhaskar reporters conducted an undercover investigation, engaging with dabba operators in Jaipur, Alwar, Bengaluru, Mumbai, and Delhi. They successfully made deals to “short sell” 30 kilograms of silver for ₹65,000, despite operators admitting there was no real demand justifying the soaring prices.

“The market doesn’t have the demand, and the price shouldn’t be this high,” one dabba operator told Bhaskar. “But speculation is driving the price up.”

The sudden rise in silver prices has led retail investors to short sell silver with dabba operators, hoping to profit from an expected price drop. However, to protect themselves, dabba traders from New York to Jaipur are allegedly creating artificial demand on exchanges like COMEX and MCX, driving prices even higher. This has resulted in a 120% price increase in the last 11 months.

How Dabba Trading Works

Dabba trading is an illegal trading system that operates alongside regulated exchanges like MCX and NCDEX. It allows individuals to trade in commodities like gold and silver with minimal margin money and without completing Know Your Customer (KYC) verification, which makes the system very risky. Deals are often made over the phone.

Dabba Traders Speak Out

During conversations with Bhaskar reporters, dabba traders revealed the extent of the speculation:

  • Rohit: “Silver will reach 2 lakh… We’ll decide when to bring it down.”
  • Jitendra: “Silver can go up to 2 lakh. Deals are happening like this from Dubai to all over the world… There is no demand.”
  • Ravi: “There is a lot of short selling right now. It will go above 2 lakh…maybe even higher.”

The traders confirmed that short selling was contributing to the price surge. They offered reporters easy access to trading accounts and accepted cash payments without requiring identification.

Online Dabba Trading

Bhaskar’s investigation also uncovered online firms facilitating dabba trading. “Close Friends Traders” in Delhi, “Capital Bazar Dot Live” in Bengaluru, and “Moneymint-8” in Mumbai were identified as operating illegal trading platforms with payments facilitated through Hawala. These firms offered trading opportunities to reporters after brief calls requesting basic information and provided payment details for transfers.

The combination of industrial demand, speculative trading, and the illegal dabba trading system has created a volatile market for silver in Jaipur, with prices expected to continue their upward trajectory in the near term.

Key Elements in the Article:

  • Focus on the Key Issue: The headline focuses on the surge in silver prices and its link to illegal trading.
  • Concise and Direct: The information is presented in a clear and straightforward manner.
  • Attribution: Information from the Bhaskar report is clearly attributed to maintain journalistic integrity.
  • Explanation of Key Concepts: The article explains what “dabba trading” is in simple terms for readers who may not be familiar with the term.
  • Quotes: Direct quotes from the traders add authenticity and weight to the article.
  • Investigation Details: Brief mention of the undercover investigation helps establish credibility.
  • Call to Action or Warning: This may include potential consequences of the risky practices.
  • Avoid Bias: By presenting facts without taking a side, the article remains objective.

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