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10 Best Silver Trading Strategies
- Trend-following strategy: This strategy involves identifying and following the trend of the silver market. It requires analyzing charts and technical indicators to determine the direction of the trend and buying or selling accordingly.
- Range trading strategy: This strategy involves buying silver when the price is low and selling when the price is high. This requires identifying key support and resistance levels in the market and trading within the range.
- Breakout trading strategy: This strategy involves buying or selling silver when it breaks out of a key resistance or support level. This requires identifying these levels and waiting for the breakout to occur before entering a trade.
- News-based trading strategy: This strategy involves trading based on news events that may impact the price of silver, such as economic data releases, central bank announcements, or geopolitical events.
- Seasonal trading strategy: This strategy involves taking advantage of seasonal patterns in the silver market. For example, silver tends to perform well during the summer months due to increased demand from the jewelry industry.
- Scalping strategy: This strategy involves making quick trades in the silver market to take advantage of short-term price movements. This requires a high level of skill and experience as well as the ability to react quickly to changing market conditions.
- Position trading strategy: This strategy involves taking a long-term view on the silver market and holding positions for several weeks or months. This requires a thorough understanding of the fundamental drivers of the silver market and a willingness to ride out short-term fluctuations.
- Contrarian trading strategy: This strategy involves taking positions that are opposite to the prevailing market sentiment. This requires a contrarian mindset and a willingness to go against the herd.
- Options trading strategy: This strategy involves using options contracts to trade silver. This can be a more complex strategy but offers greater flexibility and risk management options.
- Diversification strategy: This strategy involves diversifying your silver holdings across different investment vehicles, such as physical silver, silver ETFs, and mining stocks. This can help reduce overall risk and maximize potential returns.
MCX Silver Analysis
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
MCX 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 | 09.00 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. |
MCX Silver Price for Today
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