Silver prices decline marginally to just above Rs 2.68 lakh; should you invest now?

Silver price today

• Silver prices dipped 1.05 percent to $83 per ounce on February 12
• Global silver market tightens as China's stockpiles reach decade lows.
• Near-term support for silver seen at Rs 254,115, resistance at Rs 268,545

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Silver prices slipped slightly to Rs 2,68,128 per kilogram during early hours on February 12, representing 0.69 percent decline from the previous close.

Gold and silver prices declined after the US nonfarm payrolls data released on Wednesday came in stronger than expected for January. The labour market reading dampened expectations that slowing employment would prompt the Federal Reserve to pursue additional interest rate cuts.

Meanwhile, the Indian Bullion and Jewellers Association pegged the standard price of 1 kilogram of silver at Rs 2,66,449 on its 18:30 session on February 11, which is a 2.84 percent gain from Rs 2,59,100 in the last 24 hours.

On Comex, the metal's price dipped to $83 per ounce on Thursday, representing a 1.05 percent decline from the previous close. Traders on FedWatch are currently pricing in at 94.6 percent for 350-375 basis points in the upcoming policy decision.

Prices had slipped toward the Rs 2.30 lakh level last week, tracking global cues, amid renewed selling pressure and rising volatility.

Here's how a kilogram of silver has moved.

Silver prices today: Should you invest?

Kedia Advisory noted that, on the supply side, the global silver market is experiencing renewed tightness. China’s stockpiles have fallen to their lowest levels in almost a decade after record exports of more than 660 tonnes in October. Inventories at Shanghai-linked warehouses and exchange volumes have also declined sharply, underscoring liquidity strains.

Meanwhile, despite record inflows into London, borrowing costs remain high. By end-January 2026, silver holdings in London vaults were at 27,729 tonnes, slightly lower than the previous month.

The report estimates that silver is finding near-term support around Rs 254,115, with a break below opening the door to a slide toward Rs 245,615. On the upside, resistance lies at Rs 268,545, and a sustained move above this level could lift prices toward Rs 274,475.