Both Silver Micro and Silver 1000 have the same Lot Size of 1 kg Silver. Then why are the prices different? If there is any difference in quality etc, then is it documented in MCX site. I saw the contract specifications for these in MCX, it looks identical to me.
1.Locality :-Price Quotation for Silver 1000 New Delhi and Silver Micro Ahmedabad
2.Popularity of the Product
3.Total number of trades in that contract.
Silver micro is more popular than silver 1000 so the market price is dependent upon both of these fundamental components of buyers and sellers. The Price difference for both is only because of the total number of buyers and sellers of the contract.