Silver Mini Price Today
The MCX Silver Mini stands out as a distinctive futures contract with a reduced lot size of 5 kilograms of silver, providing a more accessible alternative compared to the standard silver contract on the MCX Silver price, which represents a larger 30-kilox`gram quantity of silver.
Additionally, an even more compact variant known as the Silver Micro is available, featuring a minimal lot size of just 1 kilogram, further expanding accessibility for investors.
Difference between Silver and Silver Mini on MCX
The differences between Silver and Silver Mini on MCX are given below:
| Silver | Silver Mini |
Size of the lot | 30 kg | 5 kg |
Size of the tick | Re.1 | Re.1 |
Initial margin | High | Low |
Level of risk | High | Low |
Accessibility | Suitable for large investors | Ideal for small investors |
Delivery units | 30 kg bars | 5 kg bars |
Expiry | Distinct for every contract | Distinct for every contract |
Silver Mini Contract Specifications
The contract specifications related to Silver Mini are given below:
Specifications | Details of the specifications |
Symbol | SILVERM |
Commodity | Silver Mini |
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 | 5 kg |
Price quote | Per kg |
Silver purity | 999 fineness |
Maximum size of the order | 5 kg |
Tick size | Re.1 |
Base value | 5 kg |
Delivery unit | Minimum of 5 kg |
Delivery centre | At every MCX delivery centre |
Ways To Make Investments in MCX Silver Mini?
- The steps to invest in MCX Silver Mini are given below:
- Initiate the process by opening a trading account with a broker that facilitates commodity trading.
- Complete the KYC procedure by submitting the required documents.
- Deposit funds into your trading account.
- Utilize the broker's provided trading platform to engage in the buying and selling of Silver Mini futures contracts.
- Keep a close eye on your investment and ensure to close your position before the expiration of the contract.
FAQs on Silver Mini Price Today
- 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 on every contract, but Silver Mini represents five kilograms of silver.
- Describe Silver Micro?
The smallest silver futures contract offered by the MCX is called Silver Micro. On the MCX, futures contracts for silver, silver micro, and silver mini represent 30, 5, and 1 kg of silver, respectively. Their varying sizes accommodate varied investment capacities; because of its smaller size, Silver Micro is the most accessible option.
- How Do You Define Silver Mini?
One kind of futures contract that is traded on the Multi Commodity Exchange (MCX) of India is the Silver Mini. Five kilograms of silver are represented by each Silver Mini contract. It is a desirable option for small traders or those who want to restrict their exposure to the silver market because of its smaller size in comparison to the normal silver futures contract.
- What is the size of the silver mini lot?
A Silver Mini contract has a lot size of five kilograms. This is the amount of silver that one contract can represent.
- How many variants of silver get traded on MCX?
There are four variants of Silver that gets traded on MCX – Silver, Silver Mini, Silver Micro, and Silver 1000.
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