Silver price on Feb. 10: Slides 1.39% near 2.59 lakh per kg; Is now the right time to invest?

• Silver traded near $82 per ounce, down 0.30 percent from previous close
• MCX silver futures closed at Rs 2,62,745/kg, up 0.05 percent
• US CPI and retail sales data may impact silver prices and Fed rate cut timing

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Silver climbed near $84 per ounce during early hours on February 10, but shed some losses to trade near $82 per ounce (02:20 am GMT), which is a decline of 0.30 percent from the previous close.

On MCX, silver futures opened the Tuesday session at Rs 2,60,301 per kilogram, but shed some losses to trade at Rs 2,58,964 as of 9:38 am IST, representing 1.39 percent decline from the previous close. Prices had slipped toward the Rs 2.30 lakh level last week in line with global cues, as selling pressure resurfaced and volatility increased.

Meanwhile, the Indian Bullion and Jewellers Association pegged the price of 1 kilogram of silver at Rs 2,53,665 on its 18:30 session on February 10.

Here's how a kilogram of silver has moved.

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Markets are now focused on the upcoming US CPI and retail sales data due February (10-11). This will shape expectations around the timing of Federal Reserve rate cuts. Rate reductions are still priced for later in 2026. However, sticky inflation or resilient consumption could delay easing.

On the macro front, US ADP data showed private payrolls increased by just 22,000 in January, well below market expectations of 48,000. Fed Governor Lisa Cook signalled opposition to further rate cuts, pointing to lingering upside inflation risks despite signs of cooling in the labour market.

Meanwhile, easing geopolitical tensions reduced safe-haven demand for gold and silver. Confirmation of talks between Iranian and US officials in Oman has tempered risk sentiment, with investors closely tracking further developments in the negotiations.

Silver rates across India’s major cities showed remarkable uniformity, with only marginal differences due to local taxes, jeweller margins, and logistics costs.