MCX Silver Live Price Today


Here is the latest mcx silver live price analysis and charts.

MCX Silver Live Price as on  22/09/21

Last Price

Open

High

Low

P.Close

Volume

60853.00

60890.00

60918.00

60841.00

60360.00

552.00

On the MCX, silver futures price change is about 0.81% to previous change 60360.00. The total volume of shares traded is 552.00.

Over the last one week mcx silver price change is about -4.06%. Over the last 30 days, the price change is about -3.98%.

MCX Silver Live Price Chart


MCX Silver Trading System 1 :

MCX Silver Live Price Chart

How to Trade the Silver Intraday Signals Chart

BUY Trade Entry

Green up arrow & candle stick must trade above the yellow trend line.

BUY Trade Exit

Trail Stop-loss as per green dotted lines or stop loss price given in text box or when a candle stick crosses below the yellow trend Line

SELL Trade Entry

Red Down arrow & candle stick must trade below the yellow trend line.

SELL Trade Exit

Trail Stop-loss as per red dotted lines or stop loss price given in text box or when a candle stick crosses above the yellow trend Line

We also expect the commodity silver futures to react on the above support and resistance levels for today.

*The below MCX Silver  Live Price Charts are updated every 10 mins with auto refresh.

MCX Silver Trading System 2 :


MCX Silver

How to Trade the Silver Multiple Super Trend Chart

BUY Trade Entry

When both super trend indicators are in uptrend. In other words two green stop loss lines below the candlestick.

BUY Trade Exit

When either of the super trend goes in downtrend.

SELL Trade Entry

When both super trend indicators are in downtrend. In other words two red stop loss lines above the candlestick

SELL Trade Exit

When either of the super trend goes in uptrend.

We have further improved the famous super trend strategy by using two different super trend indicators for generating trade call signals. The strategy increase profits by almost 70% by using two super trend indicators and also helps in exiting fast from the market when the trend is not intact.

MCX Silver Price Technical Analysis


Quant's Today Trend score for MCX Silver is 1

* A trend score of greater than 5 signals that the commodity is bullish for the day while trend score of less than 2 signals bearish trend*

Indicator

Value

Signal

RSI

RSI is 38.15

Neutral

MACD

MACD : -1013.28

Signal Line : -838.33

Bearish

Stochastic

%D is 23.66

%K is 27.2

Bullish

MFI

21.71

Neutral

Aroon

0

Bearish

Bollinger Band

BBTop is 65903.76

BBBot is 59344.74

Neutral

Simple Moving Average Short Term

SMA(15) is 62394.33

Bearish

Simple Moving Average Mid Term

SMA(45) 63681.91

Bearish

Simple Moving Average Long Term

SMA(100) 67179.57

Bearish

MCX Silver Interactive Real Time 5 Mins Intraday Chart


MCX Silver Overview


Silver along with Gold and platinum comes along in the category of Bullion.

Silver is in high demand and is widely used in fabrication, fashion electrical and electronics industries. Apart from its general usage, it is also used for medicinal purposes as it functions as a biocide and kills harmful germs.

Silver has allured investors since ancient time, and it has been used as an investment since then.

It is soft, malleable, ductile and lustrous metal. It is the best-known conductor of the electricity and is also known for its thermal conductivity. It has the high endurance to temperature and is highly reflective. There are some other unique properties of silver as well which has made the metal high in demand.

More than 95% of silver’s demand comes from the industry, investment, silver jewellery and décor.

World’s significant producers of silver are Peru, Bolivia and Mexico. Silver is not found as a native element in the Earth’s crust. It is a by-product of mining zinc, lead, copper or gold.

As per statistics, global demand for silver stands at 1170.5 million ounces, and it is continuously growing at 2.5% every year.

Looking at the supply side global mining production along with scrap and sovereign sales stands at 1040.6 million ounces. The annual growth in supply is only around 1.4%. As can be seen from supply and demand statistics, this white metal is in deficit.

Few Facts about Silver

  • Silver and Gold are strongly correlated on an intraday basis and an end of day basis.
  • Silver and Gold makes good trading pair based on pair trading techniques.
  • Unlike Gold, Silver does not have a strong correlation with crude oil.
  • Silver is traded in four variants on MCX, i.e. Silver, Silver Mini, Silver Micro, Silver 1000.

Lot size of the silver contract is 30KG, and margin requirement is close to INR 75000

Margin requirement on silver is on an average between 5-6% of contract value.

Factors Affecting the Prices of Silver

  • Supply and Demand Equilibrium: For any commodity, its price is affected by the shift in supply and demand equilibrium. Supply of this precious white metal is limited and is expected to decline further owing to restriction on mining.
  • On the other side, demand remains stable and is further expected to grow. This mismatch in demand side and supply side makes the price of this metal unstable. Factors like mining strikes can constrain the supply and while the discovery of new deposits could increase it.
  • Supply of Scrap Silver Metal: The supply of silver scrap to the market essentially determines the price as it affects the supply of silver in the market. The primary source of scrap was historically the photography industry, but with the advent of the digital photography, the demand for silver in this industry declines and therefore the supply of scrap from the industry reduced too.  Large quantities of photography films are recycled for their silver content. Another source of scrap is the silver jewellery and home décor. When silver prices go up the supply of scrap to the market increases, and it caps its price.
  • Industrial Demand: The industrial demand for this metal substantially affects the price of this metal. The demand for silver has reduced to the great extent in some of the industries such as photography industries and in those industries where the silver has been replaced by either stainless steel or the alloys of aluminium. There are other industries such as Water purification and circuit board where the demand for this metal is still high.
  • Alternative Currency: Silver is priced in terms of dollar, and it exhibits the strong inverse relationship with the dollar. It means silver prices rise when the dollar weakens and vice-versa. In the times of currency devaluation and inflation, traders view silver as alternative currency and reliable store of value.

Three reasons to invest in silver:

  1. Investing in silver protects during the economic crisis; therefore, it is considered an excellent way to mitigate risk.
  2. The strong demand side of the metal assures the soaring price of it in the future.  Strong industrial demand and demand for the metal in jewellery and home décor is rising very sharply which might further cause the rise in price.
  3. The weak supply of the metal against the rising demand is another reason why silver can be looked upon as an investment.

Risk in investing in silver

  • A strong US Dollar
  • Recession in the country
  • Substitution of silver by other cheaper metals in the industries

Contract Specifications


Symbol

SILVER

Description

SILVERMMMYY

Contract Listing

Contracts are available as per the Contract Launch Calendar

Contract Start Day

16th day of contract launch month

Last Trading Day

5 th day of contract expiry month

Price Quote

1 kg

Lot size

30 kgs

Tick Size

Re. 1 per kg

Profit/Loss made for every ₹ 1 change

Rs.30

Trading Period

Monday to Friday

Trading Timings

10.00 a.m. to 11.30/ 11.55 p.m

Commodity Group

Bullion

Instrument Type

COMMODITY FUTURES

Initial Margin

Minimum 4% or based on SPAN whichever is higher.

Contract Launch Calendar


Contract Launch Months

Contract Expiry Months

March 2017

March 2018

May 2017

May 2018

July 2017

July 2018

September 2017

September 2018

December 2017

December 2018

* Contract Launch Calendar Source MCXINDIA https://www.mcxindia.com/home

MCX Silver Price History


Date

Price

Open

High

Low

Volume

23/09/21

60842

60616

61020

60320

11291

22/09/21

61200

60890

61400

60611

10847

21/09/21

60360

59640

60819

59460

12435

20/09/21

59634

59531

60200

59222

14104

17/09/21

60000

61168

61672

59888

15349

16/09/21

61099

63475

63534

60500

22537

15/09/21

63255

63398

63586

63021

8043

14/09/21

63660

63203

63667

62603

11491

13/09/21

63300

63474

63580

62503

11749

10/09/21

63599

63992

64206

63479

6624

Get MCX Live Price of the major commodities listed on the multi-commodity change of India. Technical Live Price analysis & price charts of the commodity MCX Silver is researched every day and updated daily.

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