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Silver prices weakened on February 12, 2026, both in domestic and international markets, after gaining sharply in the previous session. The decline comes as stronger-than-expected US employment data boosted the dollar, reducing investor appetite for precious metals such as silver and gold.

Below is a detailed breakdown of the latest silver price trends, global triggers, and what experts are advising investors.

Silver Futures Fall on MCX After Previous Rally

On Thursday morning, silver futures for March delivery on India’s Multi Commodity Exchange (MCX) slipped nearly 1% from the previous closing level, touching an intraday low of about ₹2,60,251 per kilogram.

The drop follows a strong rally seen a day earlier. On Wednesday, silver prices in the global market had surged roughly 4%, reflecting short-term volatility driven by macroeconomic cues.

Spot Prices in Indian Cities

According to bullion market data, the spot price of silver on February 12 remained around ₹2,89,900 per kilogram across major Indian cities. Rates were largely uniform nationwide, including:

• Delhi – ₹2,89,900/kg

• Mumbai – ₹2,89,900/kg

• Ahmedabad – ₹2,89,900/kg

• Chennai – ₹2,89,900/kg

• Kolkata – ₹2,89,900/kg

• Hyderabad – ₹2,89,900/kg

• Jaipur – ₹2,89,900/kg

• Bhopal – ₹2,89,900/kg

• Lucknow – ₹2,89,900/kg

• Chandigarh – ₹2,89,900/kg

Just a day earlier, Delhi’s bullion market had recorded a rise of about ₹4,000 per kilogram (around 1.5%), pushing spot silver to roughly ₹2,68,500/kg, highlighting how rapidly precious metal prices can shift within short periods.

Notably, silver had crossed the ₹4 lakh per kilogram mark in January, underscoring how elevated prices have been in recent months despite current corrections.

Global Silver Rates Decline

In international markets, spot silver dropped about 1.4% to $82.87 per ounce. Analysts attribute the fall primarily to strengthening of the US dollar following robust economic indicators.

The latest US jobs report showed:

• Faster-than-expected job growth

• Unemployment rate declining to 4.3%

Strong labor market data typically supports the dollar because it reduces expectations of near-term interest rate cuts by the US Federal Reserve. When rate-cut hopes fade, yields tend to stay elevated, making non-yielding assets like gold and silver less attractive.

Investors are now watching upcoming inflation data for further direction, which could influence interest rate outlook and bullion prices.

Gold Prices Also Edge Lower

Gold mirrored silver’s weakness on February 12. On MCX, gold futures for April delivery slipped about 0.66%, hitting an intraday low of approximately ₹1,57,701 per 10 grams.

In the Delhi spot market, however, gold had risen the previous day by around ₹600 (0.4%), reaching roughly ₹1,61,300 per 10 grams.

Globally:

• Spot gold declined about 0.4% to $5,058.64 per ounce

• US gold futures for April delivery fell roughly 0.3% to $5,080 per ounce

This mixed movement reflects short-term price volatility tied closely to macroeconomic expectations rather than physical demand.

Investment Outlook: Experts Advise Gradual Buying

Market analysts note that while precious metals may fluctuate in the short run due to currency movements and interest-rate expectations, the long-term outlook for silver remains constructive. Industrial demand, green energy applications, and electronics manufacturing continue to support underlying fundamentals.

However, experts caution against investing large lump sums during volatile phases. A staggered buying approach—often called dip buying or systematic accumulation—is generally considered safer for investors looking to build exposure to silver over time.

Bottom Line

Silver prices dipped on February 12 after a sharp rally the previous day, pressured by a stronger US dollar and reduced expectations of imminent rate cuts. While short-term fluctuations may persist, analysts believe silver’s long-term prospects remain intact. Investors are advised to track global economic indicators closely and adopt disciplined investment strategies rather than reacting to daily price swings.