Silver Micro Price Today
There are four types of silver contracts offered on MCX for trading Silver, Silver Mini, Silver Micro, and Silver 1000. The primary distinction among them lies in their contract values. Silver Micro Commodity Silver prices are quoted per 1 kilogram/contract.
While delivery is mandatory for the silver contract, it is optional for Silver Mini and Silver Micro. This implies that for the latter two, you have the choice to allow the contract to expire and settle for delivery or opt for cash settlement. Notably, the margin required for a Silver Micro contract is considerably lower compared to a silver contract.
Why Should You Invest in Silver Micro?
Silver distinguishes itself among metals due to its unique dual role as both a precious and industrial metal. In contemporary times, silver enjoys substantial demand not only as a precious commodity but also as a crucial industrial material. Data analysis indicates an annual growth in silver demand of approximately 2.5%. Additionally, Silver Micro proves to be an effective diversification tool for portfolios.
Difference between Silver, Silver Micro, and Silver Mini on MCX
The differences between Silver and Silver Mini on MCX are given below:
| Silver | Silver Mini | Silver Micro |
Size of the lot | 30 kg | 5 kg | 1 kg |
Size of the tick | Re.1 | Re.1 | Re.1 |
Initial margin | High | Low | Low |
Level of risk | High | Low | Low |
Accessibility | Suitable for large investors | Ideal for small investors | Ideal for investors with low capital or who don’t want to take too high a risk |
Delivery units | 30 kg bars | 5 kg bars | 1 kg bars |
Expiry | Distinct for every contract | Distinct for every contract | Distinct for every contract |
Silver Micro Contract Specifications
The contract specifications related to Silver Micro are given below:
Specifications | Details of the specifications |
Symbol | SILVERMIC |
Commodity | Silver Micro |
Time at which the contract starts | Day six of the month-long contract launch. In the event that the sixth day is a holiday, the next working day |
Date of expiry | Day five of the month-long contract launch. In the event that the fifth day is a holiday, the previous working day |
Trading Session | Monday to Friday: 09:00 a.m. – 11:30 p.m./11:55 p.m. (Daylight saving) |
Size of contract | 1 kg |
Price quote | Per kg |
Silver purity | 999 fineness |
Maximum size of the order | 1 kg |
Tick size | Re.1 |
Base value | 1 kg |
Delivery unit | Minimum of 1 kg |
Delivery centre | At every MCX delivery centre |
Ways To Make Investments in MCX Silver Micro?
- Initiate the process of opening a trading account with a brokerage firm which offers access to MCX.
- Fulfill the required KYC (Know Your Customer) obligations.
- Deposit the requisite margin funds into your trading account.
- Utilize the trading platform provided by your broker to execute transactions, buying or selling Silver Micro contracts as needed.
FAQs on Silver Micro Price Today
- What Is MCX Silver Micro, How Much Is a Lot, and How Do I Invest?
With a lot size of 1 kg, Silver Micro is the smallest silver contract offered by MCX, allowing traders and investors to participate in the silver market with less money. This tiny contract size allows traders to speculate on silver prices or function as a hedge against price swings.
- What distinguishes silver micro from silver mini?
The size of the contracts is the main distinction between Silver Micro and Silver Mini. Silver Micro only represents one kilogram of silver every contract, but Silver Mini represents five kilograms of silver.
- Which Indicators Work Best for Micro Trading Silver?
The "best" indicators are not universally agreed upon, as this is primarily dependent on the trading style and risk tolerance of each individual. Moving Averages, Relative Strength Index (RSI), MACD, and Bollinger Bands are among the frequently utilised indicators for trading Silver Micro, just like they are for any other commodity. Trading results can be improved by combining these indicators with reliable technical and fundamental analysis.
- Is silver a wise long-term investment?
Silver is a Priceless Asset. Throughout history, gold and silver, two precious metals, have proven to be stable investments with inherent worth that has never decreased.
- How is the silver MCX determined?
Based on a number of variables, the current price of silver is determined and quoted at the MCX for ten grams of 0.999 pure silver. Because it is subject to real-time fluctuations based on market conditions and trade volume, the spot price of silver functions similarly to listed stocks on different stock exchanges.
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