MCX Silver Live Price Today
Here is the latest mcx silver live price analysis and charts.
MCX Silver Live Price as on 20/01/22
On the MCX, silver futures price change is about 1.95% to previous change 63120.00. The total volume of shares traded is 12558.00.
Over the last one week mcx silver price change is about 5.14%. Over the last 30 days, the price change is about 6.34%.
MCX Silver Live Price Chart
MCX Silver Trading System 1 :
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 :
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 7.00
* 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*
RSI is 66.82
MACD : 546.45
Signal Line : 85.16
%D is 91.44
%K is 95.15
BBTop is 64893.54
BBBot is 59679.86
Simple Moving Average Short Term
SMA(15) is 62282.33
Simple Moving Average Mid Term
Simple Moving Average Long Term
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:
- Investing in silver protects during the economic crisis; therefore, it is considered an excellent way to mitigate risk.
- 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.
- 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
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
Re. 1 per kg
Profit/Loss made for every ₹ 1 change
Monday to Friday
10.00 a.m. to 11.30/ 11.55 p.m
Minimum 4% or based on SPAN whichever is higher.
Contract Launch Calendar
Contract Launch Months
Contract Expiry Months
* Contract Launch Calendar Source MCXINDIA https://www.mcxindia.com/home
MCX Silver Price History
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.