Home CommoditySILVER

SILVER

2,34,886.00

787.00 (0.34%)

as on 11 Sep 2026 at 11:29 PM

MCX

Upcoming Expiry04 Dec

Days For Expiry83

SILVER

2,34,886.00

787.00 (0.34%) profit

as on 11 Sep 2026 at 11:29 PM

MCX

Options Open Interest Top Contracts Futures 15-Mins Built Up

Live Chart

SILVER Futures Snapshot

Monthly Contracts	Days for Expiry	LTP	Change	Change %	Volume	Open Interest	OI Change %
SILVER DEC FUT	83	2,34,886.00	787.00	0.34	11,027	13,270	0.43
SILVER MAR FUT	174	2,41,000.00	450.00	0.19	227	202	1.51
SILVER MAY FUT	235	2,43,752.00	-4,227.00	-1.70	2	13	0.00

About SILVER Futures

Silver holds classification as both a precious metal and an industrial commodity. It is used in jewellery, electronics, solar panels, and medical applications. Global demand tracks investment flows, industrial output, and currency shifts. Supply comes from mining and recycling across Mexico, Peru, and China.

MCX SILVER is a 30-kilogram contract. It trades from 9:00 AM to 11:30 PM, Monday through Friday. During US daylight saving time, trading extends to 11:55 PM. The price is quoted ex-Ahmedabad, inclusive of import duty and customs but excluding GST. For traders, this means global macro events translate into MCX price shifts within the same session. You can trade these moves without handling physical bars.

Factors influencing SILVER futures prices

Several forces drive the SILVER futures price on any given trading session.

Global spot rates and LBMA benchmark: International silver prices are set by the London Bullion Market Association (LBMA). If the global spot rises, SILVER futures follow. When the spot moves down, so do domestic futures.

USD/INR exchange rate: SILVER futures are quoted in rupees. All trades around the world are conducted in dollars. A depreciating rupee lifts MCX prices even when global silver is flat. Rupee appreciation limits domestic gains.

Solar and electronics industrial demands: Silver is used in PV cells and electrical contacts. There is support for this demand base from manufacturing expansion in Asia. Disruption of these sectors would lead to a slowdown in offtake.

Investment demand and the inflows of ETFs: Mass buying of silver-backed bond funds pushes up spot silver prices. Retail coin and bar demand adds further support during periods of economic uncertainty.

Central bank reserves and buying: Some central banks keep a stockpile of silver in addition to gold. Accumulation trends for the long-term show a floor price in all futures markets.

Geopolitical uncertainty and inflation fears: When the world has an uncertain future in uncertain hands, investors turn to silver. Premiums increase on all precious metal markets as volatility increases.

Mine supply and recycling: Production is stable worldwide, mainly from Mexico, Peru and China. Major disruptions in the mines cause supply constraints.

Government import policy in India: Import duty adjustments alter landed costs. Duty hikes raise domestic prices and keep them elevated. Cuts have the opposite effect.

How are SILVER futures prices determined?

SILVER futures prices are discovered through live order matching on MCX. The theoretical price rests on global spot rates plus the USD/INR conversion, import duty, and cost of carry.

Global spot and currency conversion: SILVER futures prices are discovered through live order matching on MCX. The theoretical price rests on global spot rates plus the USD/INR conversion, import duty, and cost of carry.

Expectations embedded in futures: The futures price embeds expectations of currency movement, storage costs, and supply-demand shifts over the contract life. As expiry approaches, the futures price converges toward the spot price.

Final settlement mechanism: The final settlement price is the Due Date Rate (DDR). It is the simple average of the last polled spot prices over the final three trading days. This reduces the impact of any single day's volatility on settlement.

Contango and backwardation signals: When futures trade above spot, the market is in contango. This reflects a comfortable near-term supply. When futures trade below spot, the market is in backwardation. This signals physical tightness or strong immediate demand.

Key metrics to consider while trading SILVER futures

These numbers define how the contract behaves, so review them before trading.

Lot size: One contract represents 30 kilograms.
Tick size: Minimum price movement is Re. 1 per kg.
Quotation: Prices are quoted in rupees per kilogram.
Expiry: Contracts expire on the 5th day of the contract expiry month. If that day is a holiday, the preceding working day. New contracts launch on the 16th day of the launch month.
Trading hours: Standard trading hours run Monday through Friday, 9:00 AM to 11:30 PM. During periods of US daylight saving time, the closing time shifts to 11:55 PM.
Daily Price Limit (DPL): The initial circuit breaker sits at 4%. If breached, the limit widens to 6% without a cooling-off period. If 6% is breached, a 15-minute pause follows before expanding to 9%.
Initial margin: Minimum 10% or SPAN-based, whichever is higher. Extreme loss margin applies on top.
Open Interest (OI): Total outstanding contracts across all participants. Rising OI with rising price indicates fresh long positions. Rising OI with falling price indicates fresh shorting.
Position limits: Individual clients can hold up to 100 MT or 5% of market-wide OI, whichever is higher, for all Silver contracts combined. Members can hold 1,000 MT or 20% of market-wide OI.
Maximum order size: 600 kg per order.
Delivery: Compulsory delivery at expiry. The primary delivery centre is Ahmedabad. Additional centres are Mumbai and Delhi. The quality standard is 999 fineness. LBMA-approved suppliers are mandatory.

How to read SILVER futures data?

Each data point on the SILVER futures page adds a distinct layer to your read.

SILVER futures live: This shows the current traded level of the most active contract. This is where buyers and sellers are matching right now.

SILVER futures today: This data includes open, high, low, and last traded price. The difference between high and low shows intraday volatility.

SILVER futures chart: Historical price action appears across multiple timeframes. Dhan offers Custom Timeframes and India Timeframes. Align daily trends with intraday signals before committing capital.

Volume: The number of contracts traded in the session matters. A price move on high volume carries more weight than one on thin volume.

OI: This tells you how much capital sits in open positions. If price rises and OI rises, the trend has backing. If price rises and OI falls, the move may be short-covering.

Bid-ask spread: This is the gap between the best buy and sell prices. A narrow spread means the contract is liquid. A wide spread signals lower activity.

Benefits of trading SILVER futures

This contract offers specific advantages over physical silver or unregulated markets.

Macro participation without physical exposure: Silver prices are influenced by central bank policies, currency fluctuations, and geopolitical events. Using futures gives traders an opportunity to take advantage of these price fluctuations without the need to rely on physical bars.
Leverage through margin: Only a margin payment is required for futures. This means lower investments in the markets. It is also an opportunity to create a margin until it is managed.
Hedging utility for jewellers and bullion dealers: Companies with silver price risk exposure can use MCX futures to manage input costs. The compulsory delivery design supports this operational hedging.
Transparent, regulated infrastructure: MCX is an exchange regulated by SEBI. The prices are displayed publicly. Settling takes place in accordance with a set of rules. The clearing house lowers the counterparty risk.
Physical delivery option: Compulsory delivery at expiry ensures convergence between futures and spot. Sellers deliver 999 fineness silver. Buyers receive LBMA-approved bars with quality certification.
Portfolio diversification: Silver prices often move inversely to equities and bonds. The introduction of SILVER futures into a portfolio can lower general volatility and offer protection against systemic risks.

Most commonly used strategies in SILVER futures

Traders use a few standard setups; match one to your view.

Directional long or short: Buy futures if you expect prices to rise. Sell if you expect a fall. This is the simplest approach. Risk management in terms of position size relative to margin is critical.

Month-to-month spread: Buy one expiry month while simultaneously selling another. Profit depends on the movement of the difference between the two months. Spreads generally require a lower margin and carry lower volatility.

Jeweller or dealer hedge: A jeweller with physical silver could sell futures, thereby fixing a selling price. When spot prices are higher, the futures loss is offset by the physical gain. Once they've fallen, the futures profit compensates for the losses.

Arbitrage between MCX and international markets: If the MCX price differs considerably from the London price after taking currency and duty costs into consideration, a reversion trade could be considered. This calls for knowledge of both markets.

How to trade SILVER futures on Dhan?

Open your account: Obtain a commodity trading account with Dhan and register with a broker to complete the KYC process. Make sure that the commodity futures (MCX) segment is put into a separate account from your stocks.
Add funds: Transfer money to your trading account. Allow enough margin for the opening position, as well as for day to day mark to mark settlements during the life span of the trade. On placement of the order, Dhan makes the margin requirements clearly visible.
Pick your contract: Choose your preferred expiry month. The most liquid contracts are near-month contracts. Each lot is 30kg.
Read the market data: Analyse the SILVER futures live price, chart, open interest, and volume before entering. Track London spot prices, USD/INR rates, and central bank announcements. Review live contract details directly on the instrument page under MCX commodities.
Place your trade: Execute using the appropriate order type. Market orders fill at the prevailing price. Limit orders execute only at your specified price. The maximum order size is 600 kg.
Track your position: Monitor SILVER price movements, OI shifts, and MTM adjustments actively. The contract is sensitive to Fed decisions, currency moves, and geopolitical developments.
Adjust when needed: Set a stop-loss at entry and revisit it as the trade develops. Modify or exit based on market developments and your original strategy parameters.
Know the contract type: SILVER futures follow daily MTM settlement. Profits and losses are credited or debited at the end of each trading day. Delivery is compulsory at expiry if positions remain open.

Tips for trading SILVER futures effectively

These practices help you manage risk and read the market more clearly.

Track US Federal Reserve policy: The dollar's interpretation is propped up by rate decisions and forward guidance, which has a trickle-down effect on silver. Pay attention to statements by the FOMC, dot plots, and press conferences.
Follow the USD/INR in conjunction with the London spot: The rupee dollar rate affects the price of MCX. A weaker rupee helps the domestic economy even though London currency rates remain unchanged.
Factor in Indian festival demand: The wedding season and year-end buying boost physical demand. This can cause MCX prices to climb and remain above London prices.
Monitor the central bank buying reports: The World Gold Council shares information on countries building up their stores of precious metals every quarter. Resilient buying sets bottomed-up price floors.
Account for daily MTM and margin calls: MCX settles profits and losses every evening. Silver has a tendency to gap when geopolitical events or central bank surprises occur. Scale your trading choices to resist trading calls. Do not size based on the minimum margin alone.
Use multiple time frame charts: The trend that can be seen on the daily SILVER futures chart can differ from the hourly trend. Dhan's custom and India timeframes let you align both before entering.
Use the Dhan Trade Plan for position sizing: Trade Plan is a built-in tool on Dhan Charts. Input your capital allocation percentage, risk percentage, and reward percentage. It calculates your exact quantity, stop-loss level, and target price automatically.
Square off before expiry if you do not want delivery: Most retail traders do not intend to take or give physical delivery. Exit well before the last trading day to avoid compulsory delivery obligations.
Size positions within capital limits: The ability to take a large position with a small margin is not a reason to do so. Keep single-trade risk within a defined percentage of your total capital. Use the Trade Plan to enforce this discipline.

FAQs

What is 1 lot size of SILVER futures?

1 lot of SILVER Futures on MCX is 30.

What is the trading time for SILVER futures?

The trading time of SILVER futures is:

April to October - 9:00 AM to 11:30 PM
November to March - 9:00 AM to 11:55 PM

When is the upcoming SILVER futures expiry?

The upcoming futures expiry of SILVER on 04 Dec 2026.

Are SILVER futures settled in cash or via physical delivery?

At the end of the day, all the positions are auto squared off. Meaning, the derivatives are settled in cash. At present, the physical delivery of Commodity position is not allowed.