Silver price on Feb. 9: Climbs nearly 5% to Rs 2,62,093 as investors step in to buy on dips

Silver price today

Silver climbed 4.88 percent at Rs 2,62,093 per kilogram on February 9 as investors returned to dip-buying amid steady industrial demand.

On Comex, silver spot was trading slightly above $81 an ounce, representing 5.57 percent gain 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.

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.

According to Augmont’s February 7 report, silver is likely to consolidate in the $70–$90 range (Rs 2,25,000–Rs 2,85,000). Traders are advised to adopt a buy-on-dips and sell-on-rallies approach, while a break below $70 could open the door for further downside toward $64 (Rs 2,00,000).

Here's how a kilogram of silver has moved.

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