Silver rate, February 10: Price falls by ₹7,500 to ₹2.64 lakh per kg; gold rises by ₹2,200/ 10 grams

According to the All India Sarafa Association, the white metal dropped ₹7,500 to ₹2,64,500 per kg (inclusive of all taxes) from Monday's closing of ₹2,72,000 per kg.

On the other hand, gold of 99.9% purity appreciated by ₹2,200, or 1.4%, to ₹1,60,700 per 10 grams (inclusive of all taxes). It had settled at ₹1,58,500 per 10 grams in the previous market session.

Traders said gold extended its gains for the second consecutive session amid sustained buying by the jewellers and investors.

In the international market, spot silver fell by $1.13, or 1.37%, to $82.16 per ounce, while gold is trading marginally lower at $5,052.43 per ounce.

Gold, silver outlook

Gold prices are likely to trade firm this week as traders await key economic data, including US inflation numbers, for fresh cues on interest rate outlook, while silver may remain volatile amid shifting risk sentiment and speculative activity, analysts said.

Traders will look for cues from the US GDP, PMI, non-farm payroll, and inflation data.

Besides, inflation readings from China, Germany, and India will also be keenly watched.

Speeches from US Federal Reserve officials will be closely tracked as well for indications on the timing of potential rate cuts and their impact on bullion prices, they added.

"Gold consolidation and recovery suggest that bias still remains positive." However, in the case of silver, we remain cautious of volatility and further corrections," Pranav Mer, vice president, EBG - Commodity & Currency Research, JM Financial Services, said.

What the Economic Survey 2025-26 said

According to the Economic Survey 2025-26, gold and silver rates in India are expected to remain elevated due to heightened global uncertainties until trade wars are resolved and a durable peace is established.

Both gold and silver touched lifetime highs in 2025, rising by up to 166%. The precious metals rise in uncertain situations like geopolitical tensions, market fluctuations, and weak currencies.

The bull run was supported by a weakening US dollar, expectations of persistently negative real rates, and the market's growing assessment of geopolitical and financial tail risks, the survey said.

"The prices of precious metals, both gold and silver, are likely to continue increasing due to their sustained demand as safe-haven investments amid global uncertainties, unless a durable peace is established and trade wars are resolved," it said.