Silver rate today recovered 2% on MCX, still down 42% from peak - Right time to buy?

Silver rate today: Silver prices rebounded on Friday, February 13 after 2 sessions of losses as investors bought on dips as stock markets witnessed a major sell-off on AI concerns. Meanwhile, US dollar also remained muted despite stronger than expected US Jobs data released on Wednesday dampened hopes of near-term interest rate cuts.

Silver prices on MCX rose as much as 2.2% to its day's high of ₹2,41,798 per kg.

In the international markets as well, Spot silver jumped 2.1% to $76.76 per ounce, clawing back part of the sharp 11% plunge seen on Wednesday. The earlier fall had rattled sentiment, but the recovery suggests buyers stepped in at lower levels, betting that the recent correction may have been overdone.

Gold prices also rebounded, though more modestly compared to silver.

On MCX, Gold prices added 1.3% to its day's high of ₹1,54,837 per 10 grams.

Spot gold rose 1% to $4,966.83 per ounce by 0127 GMT, after dropping more than 3% in the previous session and slipping below the psychologically important $5,000 mark to a near one-week low. U.S. gold futures for April delivery advanced 0.7% to $4,985.40 per ounce.

Among other precious metals, spot platinum rose 1.7% to $2,033.15 per ounce, while palladium gained 1.4% to $1,639.99, tracking the broader rebound across the metals complex.

Why Silver, Gold rose today?

The recovery in precious metals came even as the U.S. dollar remained mostly flat against major peers on Thursday, stabilising after mixed signals from recent U.S. economic data. A firmer dollar typically makes dollar-priced commodities more expensive for holders of other currencies, acting as a headwind for metals.

Data released earlier showed that the U.S. labour market began 2026 on a stronger footing than anticipated. Nonfarm payrolls increased by 130,000 jobs in January, following a downwardly revised gain of 48,000 in December, while the unemployment rate edged lower to 4.3%. Adding to the picture of labour market resilience, initial jobless claims fell to 227,000 in the week ended February 7, as per data released on Thursday.

These signals have reinforced expectations that the Federal Reserve may keep interest rates elevated for longer, limiting aggressive rate-cut bets. Investors are now turning their attention to inflation data due later in the day for clearer cues on the future path of U.S. monetary policy.

What should investors do?

Joseph Thomas, Head of Research at Emkay Wealth Management noted “With central banks continuing to accumulate gold, interest rate cycles turning supportive, and silver benefiting from rising industrial demand.”

“Precious metals are increasingly being viewed as core portfolio assets rather than tactical hedges,” Thomas said. “While short-term volatility is inevitable, the medium- to long-term case for maintaining measured exposure to gold and silver remains strong,” he further stated.

Rich Dad Poor Dad author Robert Kiyosaki sees silver price hitting $200 an ounce or more by 2026. In a recent post on X, Kiyosaki announced: "Still believe silver will reach $200 an ounce…or more…in 2026." Despite recent volatility in the white metal, Kiyosaki made it clear that near-term price swings have not shaken his conviction. He continues to see silver as deeply undervalued in a world grappling with rising debt, weakening currencies and fragile confidence in financial systems.

Ponmudi R, CEO of Enrich Money, said COMEX silver is currently trading in the $80–$87 range after a sharp correction from record highs above $121. He said that while the higher-timeframe trend remains bullish, the steep pullback has dragged prices below key moving averages, indicating near-term bearish pressure.

He added that strong buying interest is visible in the $65–$70 support zone, which coincides with earlier swing lows and long-term trend support. According to him, a sustained hold above this base, followed by a recovery and a decisive close above the $85–$92 zone, could restore upside momentum, opening the door for a move towards $95–$105 and eventually a retest of previous highs.

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