Silver Rate Today Falls 2% as US Dollar Pressures PreciousMetals

Silver rate today dropped by 2% on February 10 as a stronger US Dollar weighed on precious metals and traders turned cautious ahead of key US Jobs and Inflation Data. 

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MCX silver price fell 2.1% to Rs. 2,56,864 per kg. Gold Rate Today also slipped over 1% earlier in the session before recovering to Rs. 1,56,001 per 10 grams in later trade.

Global Silver and Gold Remain Below Record Highs

In overseas markets, Silver Price fell 2.5% to $81.31 per ounce after a sharp 7% jump in the previous session. The metal is now over 40% below its January 29 peak of $121.64 per ounce. Spot gold eased 1% to $5,016.56 per ounce, staying around 11% below its recent record high of $5,594.82. Other precious metals, such as platinum and palladium, also remained under pressure.

Why Silver and Gold Prices Fell Today

The US Dollar strengthened from a one-week low, making dollar-denominated metals more expensive for global buyers. Investor caution also rose ahead of the US jobs data and inflation information due later this week. 

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White House adviser Kevin Hassett said US job gains could slow in the coming months, adding uncertainty around future interest rate decisions and reducing short-term appetite for precious metals.

Why Silver is More Volatile Than Gold

Silver often shows sharper price swings than gold due to heavier speculative trading and thinner liquidity. Gaurav Garg of Lemonn Markets Desk said, “Domestic buying interest and international cues lifted prices, while profit-taking was seen near intra-day highs. Near-term consolidation is likely, with key support levels for gold at Rs. 1.54–1.55 lakh and silver at Rs. 2.40–2.45 lakh.”

What Indian Investors Should Watch Next

Jigar Trivedi of IndusInd Securities expects MCX silver to remain weak near Rs. 2.58 lakh as global trends stay soft. Market focus remains on US Jobs and Inflation Data, along with movements in the US Dollar. Precious Metals may stabilize if rate-cut expectations firm in the coming sessions.

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Note: This is market commentary, not investment advice.