Gold, silver rates today: Gold prices retreat to $5,000, silver prices fall 2% to $82. What should investors do?

Gold, silver rates today: Gold and silver prices slipped slightly on Thursday, February 12, after strong US jobs data dampened expectations of an early interest rate cut by the Federal Reserve.

Spot gold prices fell marginally to $5,080 per ounce, while spot silver prices plunged 2% to $82.2 during Asian trading hours on Thursday.

Gold prices are down 10.4% from their record high of $5,608.35 per ounce. Spot silver remains 48% below its all-time high of $121.67 per ounce.

Why are gold and silver prices falling?

According to Bloomberg report, US payrolls increased by the largest margin in over a year, while the unemployment rate unexpectedly declined in January, indicating that the US labour market remained resilient at the beginning of 2026.

The figures are likely to strengthen the Federal Reserve’s stance to keep interest rates unchanged for now, with many traders reportedly pushing expectations for the next rate cut to July instead of June. Lower interest rates typically benefit precious metals, as they do not offer any yield.

Despite early losses on Thursday, gold managed to stay above the $5,000-an-ounce mark and has recovered roughly half of the losses it suffered during the sharp sell-off at the start of the month.

Several banks believe the rally could pick up again, as the factors that drove its earlier gains remain in place — including geopolitical tensions, concerns over the Federal Reserve’s independence, and a move away from conventional assets such as currencies and sovereign bonds, as per the Bloomberg report.

BNP Paribas SA, as quoted by Bloomberg, expects bullion to climb to $6,000 by year-end, while Deutsche Bank AG and Goldman Sachs Group Inc. have also projected a bullish outlook for the precious metal.

Gold and silver prices outlook in near-term

According to Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, gold traded firm as participants position ahead of key U.S. data on unemployment and non-farm payrolls this week.

“CME Gold held strong above $5,050 and traded near $5,066, maintaining support above the crucial $5,000 mark for the past few sessions, keeping the short-term trend intact,” Trivedi said.

Meanwhile, on the gold prices outlook, Ponmudi R, CEO of Enrich Money, said that the broader uptrend remains intact, with the recent pullback appearing as healthy profit booking rather than structural damage.

“COMEX Gold is trading within the $4,900–$5,100 band after correcting sharply from highs above $5,500–$5,600. Prices continue to hold above major moving averages, suggesting the corrective phase is maturing. Strong buying interest is visible in the $4,500–$4,700 support zone. Stability and acceptance above $5,100 would open the path toward $5,200–$5,300, eventually paving the way for a potential retest of record highs," Ponmudi said.

On the silver prices outlook, Ponmudi further opined that the long-term bullish structure remains intact, but the short-term picture reflects extended corrective pressure, with prices slipping below key moving averages.

“COMEX Silver is hovering near $82.20 after a sharp correction from record highs above $121. The $65–$70 zone remains a strong structural support band. A sustained base formation above $83.50, followed by a recovery and close above $85–$92, could revive momentum toward $95–$105 and potentially retest prior highs. Industrial demand and supply constraints continue to support the long-term constructive view despite elevated volatility,” he added.

(With inputs from Bloomberg)

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.