Silver price on Feb. 10 stayed under pressure through the early part of the day, both in the international market and on India’s commodity exchanges. After showing strength in early global trade, the metal gradually slipped, reflecting rising volatility and a shift in broader market sentiment.
The day’s movement clearly showed how sensitive silver remains to global macro signals, currency trends, and risk appetite.
Market Performance: Silver Price on Feb. 10 Weakens Across Markets
Silver started the day on a mixed note but quickly lost momentum.
In international markets, silver briefly climbed close to $84 per ounce during early Asian hours. However, the gains were short-lived. By 02:20 am GMT, prices slipped to around $82 per ounce, marking a 0.30% decline from the previous close.
This pullback followed heightened volatility seen over the past few sessions, as traders stayed cautious ahead of key global economic cues.
MCX Silver Futures See Notable Intraday Pressure
On the domestic front, the pressure was more visible.
Silver futures on the Multi Commodity Exchange opened Tuesday’s session at ₹2,60,301 per kg. As the session progressed, prices drifted lower.
By 9:38 am IST, silver was trading at ₹2,58,964 per kg, down 1.39% from the previous close.
Last week, silver prices had already slipped toward the ₹2.30 lakh per kg zone. That move was largely driven by global selling pressure and rising market swings, which continued to influence sentiment on Feb. 10.
IBJA Silver Rates Reflect Soft Undertone
The softer tone was also visible in physical market benchmarks.
The Indian Bullion and Jewellers Association (IBJA) fixed the price of 1 kg of silver at ₹2,53,665 during its 18:30 session on February 10.
This pricing reflects prevailing spot market conditions and offers a broad view of silver’s direction across the domestic bullion market.
Key Factors Driving Silver Price on Feb. 10
Several global and macro developments shaped silver’s movement during the day.
Market participants remained focused on upcoming economic data from the United States, which continues to influence commodity prices worldwide.
- US CPI and retail sales data, scheduled for February 10–11, remained in sharp focus
- These data points are expected to shape expectations around future interest rate decisions
- Rate reductions are currently priced for later in 2026, keeping near-term sentiment cautious
At the same time, shifting risk sentiment played a role.
Macro Cues and Global Sentiment Weigh on Silver
On the macro front, fresh US labour data added another layer of uncertainty.
US ADP private payrolls data showed an increase of just 22,000 jobs in January, significantly lower than market expectations of 48,000.
Meanwhile, commentary from US Federal Reserve officials highlighted continued concerns around inflation risks, even as parts of the labour market showed signs of cooling.
Alongside this, easing geopolitical tensions also influenced precious metals.
- Confirmation of talks between Iranian and US officials in Oman helped calm global risk sentiment
- Reduced uncertainty lowered safe-haven demand for assets like gold and silver
- Investors continued to track developments closely for further clarity
Silver Prices Remain Largely Uniform Across Indian Cities
Silver rates across major Indian cities showed notable consistency on Feb. 10.
The marginal differences seen were mainly due to:
- Local taxes
- Jeweller margins
- Transportation and logistics costs
Overall, pricing trends remained aligned nationwide, reflecting the broader softness seen in benchmark rates.
Summary: Silver Price on Feb. 10 Reflects Volatility and Caution
Silver price on Feb. 10 stayed under pressure as early gains faded and global cues turned cautious. International prices slipped after touching higher levels, while MCX silver futures declined by over 1% during morning trade.
Domestic bullion prices tracked the softer trend, with IBJA rates reflecting subdued market conditions. With global macro data, labour numbers, and geopolitical developments in focus, silver continued to move in line with shifting risk sentiment rather than strong directional conviction.
For now, the metal’s movement underscores just how closely silver prices remain tied to global signals and short-term market volatility.
Source: Moneycontrol
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