Silver price today: Falls nearly 9% to Rs 2,46,257 as investors rush to book profits

Silver price today

• Silver prices fell 8.4 percent to Rs 2,46,257 per kg on MCX on February 5
• International silver price dropped 3.74 percent to $81 per ounce on Comex
• Silver expected to consolidate in the $72–$88 range, says Augmont report

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Silver prices fell sharply in the morning session on February 5, hovering at Rs 2,46,257 per kilogram on MCX as of 9:36 am IST, which is  8.4 percent dip from the previous close. The metal's price opened at Rs 2,52,719 before taking a fall.

In the international market, the metal's price stood at $81 per ounce on Comex, which is 3.74 percent decline from the previous close. The metal's price surged to near $90 during the early morning session.

Before the fall, silver rebounded about 25 percent, as forced liquidations eased and dip buyers stepped in to capitalize on sharply lower prices.

Geopolitical tensions also added to safe-haven demand after the US Navy shot down an Iranian drone in the Arabian Sea, even as markets await a fresh round of nuclear talks scheduled for Friday.

President Trump signed a spending deal restoring funding for key federal agencies, effectively ending the partial US government shutdown and extending Homeland Security funding until February 13, buying time for further negotiations.

The Augmont report stated that silver is attempting to build a base and is expected to consolidate in the $72–$88 range ( Rs 2,25,000–2,83,000). If prices sustain above this range, it can rally towards the $98-100 (Rs 3,20,000-3,25,000) zone in the coming days.

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.