Live Silver Prices
| Last Trade | Change | Change in % |
| 81,213.0 | -14.0 | -0.02% |
| High | Low | Open |
| 81,489.0 | 80,809.0 | 81,227.0 |
| Resistance | Support | Signal | |||
|---|---|---|---|---|---|
| R1 | 81,667.7 | S1 | 80,316.7 | 5 Min | Buy |
| R2 | 82,202.0 | S2 | 79,500.0 | 1 Hour | Sell |
| R3 | 83,018.7 | S3 | 78,965.7 | 1 Day | Buy |
| Period | MA 20 | MA 50 | MA 100 |
| 5 Minutes | 81253.95 | 81249.75 | 81138.09 |
| 1 Hour | 81048.62 | 81187.00 | 81650.06 |
| 1 Day | 82417.48 | 78924.18 | 75282.08 |
| 1 Week | 74786.90 | 73298.25 | 68059.39 |
Disclaimer – Live prices displayed here are for informational purposes only. We cannot guarantee accuracy. Please do your own research before making any financial decisions.
Today MCX Silver Price
MCX Silver refers to the silver contract traded on the Multi Commodity Exchange of India Ltd (MCX), one of the largest commodity exchanges in India. The current MCX Silver Price/Rate is ₹80415.00
The price of silver in the Multi Commodity Exchange of India Ltd (MCX) fluctuates every day. Let’s understand what MCX Silver
MCX Silver stands for Silver in Multi Commodity Exchange of India Ltd (MCX). Silver has an important significance in the commodity market due to its diverse applications in various industries, including electronics, jewellery, photography, and medicine. Trading in MCX Silver offers investors and traders opportunities to hedge against inflation, diversify their portfolios, and speculate on price movements.
- MCX Silver contracts are standard agreements to buy or sell a specified quantity of silver at a predetermined price on a future date. The trading specifications for MCX Silver contracts typically include:
- Contract Size
- Price Quotation
- Delivery Months
- Trading Hours
Key Factors that Influence MCX Silver Price
The price of silver changes every day in the MCX market. Here are the factors which influence the price of MCX Silver-
- Global Demand and Supply: The demand for silver is everywhere in industrial applications like jewellery manufacturing, and investment purposes which influence the price of silver. The supply of silver also affects the price when there is a reduction in mine production, recycling rates, etc.
- Market Sentiment: Investor sentiment, economic indicators, geopolitical events, and macroeconomic factors such as inflation, interest rates, and currency movements can affect the price of silver in the trading market. Investors who invest in silver closely monitor the silver factor and adjust their trading position.
- Currency Fluctuation: Silver prices are denominated in Indian Rupees (INR) on the MCX platform. When there is a change in the exchange rate between INR or other currencies, it impacts the purchasing power of investors and affects silver prices.
- Investor Demand: Silver’s price can be influenced by investor demand for it as a safe-haven asset or as an alternative investment. Short-term price swings can be caused by speculative trading activity, central bank purchases, and investment flows into silver exchange-traded funds (ETFs).
- Industrial Usage: Silver is highly used in industrial applications too. They are used in electronics, solar panels, medical devices, and automotive components. When there is a change in industrial demand, technological advancements, and shifts in manufacturing trends where silver is in demand, it affects the silver price.
How Does MCX Silver Hallmarking Work in India?
To ensure the purity of silver, the MCX Silver Hallmarking procedure is a must. If your silver has a hallmark, then it is a sign of purity of silver and it meets the required standards. There are the silver hallmark categories to check the silver purification-
- Sterling Silver: It means, it has a purity of 92.5%. It symbolizes the S capital in the hexagon.
- Standard Silver: It means, it has a purity of 95.0%. It symbolizes the S capital in the oval.
- Britannia Silver: It means, it has a purity of 95.84%. It symbolizes the lady in the oval.
Frequently Asked Questions:-
MCX Silver refers to the silver commodity traded on the Multi Commodity Exchange of India (MCX). It allows investors and traders to buy and sell silver contracts.
The price of MCX Silver is influenced by various factors such as global silver prices, supply and demand dynamics, currency fluctuations, and economic indicators. Additionally, geopolitical events and changes in industrial demand for silver also play a role.
The trading hours for MCX Silver on the MCX exchange typically start from 9:00 AM and continue until 11:30 PM IST (Indian Standard Time) on weekdays. Hours may vary on public holidays.
The MCX Silver contract specifications include contract size (in kilograms), tick size, trading hours, expiry dates, and delivery methods. These details are specified by the exchange.
Margin requirements for MCX Silver trading are set by the exchange and vary depending on market volatility and contract size. Traders must maintain a margin account to cover potential losses.
MCX Silver prices are influenced by international market prices, currency exchange rates, inflation, industrial demand, geopolitical tensions, and changes in interest rates.
To start trading MCX Silver, you need to open a trading account with a registered broker. After completing the necessary paperwork and KYC process, you can start trading MCX Silver contracts.
Trading MCX Silver involves market risks such as price volatility, margin calls, and liquidity risks. It is essential to have a risk management strategy and understand the market before trading.
The tax implications depend on the country and its tax regulations. In India, gains from trading MCX Silver may be subject to capital gains tax or business income tax, depending on the nature of the trade.
Some common strategies for trading MCX Silver include technical analysis (using charts and indicators), fundamental analysis (considering economic data and news), and arbitrage (taking advantage of price differences across markets). Always perform your due diligence before trading.