Silver steadies above Rs 2.40 lakh after initial losses; should you invest now?

Silver price today

• Silver prices dropped but rebounded to trade at $76
• US jobs data and Fed rate uncertainty impact silver prices
• Domestic silver price on MCX closed down 9.84 percent

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Silver prices are holding firm as investors take advantage of dips after US jobs data, amid elevated uncertainty over the Federal Reserve’s interest rate path.

The metal took a sharp fall on Comex during early trade on February 13, declining from nearly $83 to $74, but recovered some of those losses to trade at $76 per ounce, representing a gain of around 1.32 per cent from its previous close.

On MCX, silver opened the Friday session at Rs 2,40,499 per kilogram, representing 1.72 percent gains from the previous close.

The metal, mirroring the international price, closed the Thursday session at Rs 2,37,136 per kilogram.

Meanwhile, the International Bullion and Jewellers Association pegged the standard price of silver at Rs 2,59,133 for 999 purity on its 18:30 pm rate session.

Why is silver price down? Should you invest?

The US job growth unexpectedly accelerated in January, and the unemployment rate fell to 4.3 per cent.

"These are signs of labour market stability that could give the Fed room to keep interest rates unchanged for some time while policymakers monitor inflation. But the largest increase in payrolls in 13 months likely exaggerates the labour market's health, as revisions showed the economy added only 181,000 jobs in 2025, down from the previously estimated 584,000.

Market participants are a bit sceptical about yesterday’s jobs data as it was once again a delayed number amidst a brief shutdown in late January, keeping the dollar index firm around 97," said Manav Modi, Commodities Analyst, Motilal Oswal Financial Services.

U.S. Treasuries sell-off, with two-year yields climbing to 3.5 percent. Markets expect the Federal Reserve to hold rates steady through Chair Jerome Powell’s term ending in May, before potentially cutting in June—raising concerns that policy under his likely successor, Kevin Warsh, could turn overly accommodative. Investors will track UK GDP, U.S. weekly jobless claims, and domestic CPI data for further cues.

Meanwhile, following talks with Israeli Prime Minister Netanyahu, President Trump said no “definitive” agreement had been reached on the way forward with Iran, but emphasised that negotiations with Tehran would continue in hopes of securing a deal without further escalation.