Silver price today: Volatile outlook - White metal jumps to Rs 2.47 lakh/kg | What lies ahead - Know from experts
Silver prices rebounded sharply in early trade on February 19, with MCX silver futures jumping 1.38% amid selective buying after a steep correction. However, weak global cues and uncertainty ahead of the US Fed minutes continue to keep volatility elevated.
- Feb 19, 2026,
- Updated Feb 19, 2026 3:08 PM IST
Silver prices rebounded sharply in early trade on February 19, snapping a recent losing streak as selective buying emerged after a steep correction from record highs. On the Multi Commodity Exchange (MCX), silver futures opened higher at Rs 2,47,651 per kilogram, up 0.12 per cent from the previous close, before extending gains to nearly 1.38 per cent during the session.
The recovery comes after silver prices slipped in recent days due to weak global cues, profit booking, and heightened volatility across precious metals. Internationally, however, the tone remained cautious. Spot silver was trading lower at around $77 per ounce, down 0.76 per cent over the past 24 hours, as investors stayed on the sidelines ahead of key macroeconomic triggers.
Market participants are closely tracking the minutes of the US Federal Reserve’s January policy meeting, due later this week, for clearer signals on the future trajectory of interest rates. Any indication of prolonged higher rates could pressure non-yielding assets like silver, while a dovish tilt may revive bullish sentiment.
In the domestic spot market, silver prices in Delhi stood at Rs 253 per gram, or Rs 2,53,001 per kilogram, up Rs 2 from the previous day’s level of Rs 251 per gram. So far in February 2026, silver prices in the national capital have fluctuated sharply between Rs 241 and Rs 301 per gram, reflecting the metal’s elevated volatility. Domestic prices continue to be influenced by global silver trends, USD-INR movement, and local taxes.
According to Ponmudi R, CEO of Enrich Money, MCX silver futures are currently trading in the Rs 2,30,000–Rs 2,50,000 range after a sharp correction from record highs near Rs 4,20,000. While the long-term bullish structure remains intact, prices have slipped below key moving averages, pointing to short-term bearish pressure and an ongoing corrective phase. He noted that strong buying interest is visible in the Rs 2,25,000–Rs 2,35,000 support zone, which coincides with prior swing lows. A sustained hold above this base could pave the way for a recovery toward Rs 3,00,000–Rs 3,25,000, while a decisive breakdown may deepen the correction.
On the global front, COMEX silver has corrected sharply from highs above $121 and is now consolidating in the $73–$80 zone. Ponmudi said strong support lies between $65 and $70, and a recovery above $85–$92 could revive upside momentum toward $95–$105, supported by steady industrial demand and structural supply constraints.
Aksha Kamboj, Vice President at the India Bullion & Jewellers Association (IBJA), said silver is witnessing a weak but steady recovery as volatility eases. The rebound is being driven by selective buying and improving industrial sentiment, though traders remain cautious amid lingering global uncertainty.
Meanwhile, an Augmont Bullion report noted that silver prices have softened as safe-haven demand wanes amid easing geopolitical tensions. The report expects silver to consolidate in the $70–$90 range, or Rs 2,25,000–Rs 2,85,000 domestically. A break below $70 could open the door for further downside toward $64, or around Rs 2,00,000. Traders are advised to adopt a buy-on-dips and sell-on-rallies strategy in the near term.
Silver prices rebounded sharply in early trade on February 19, snapping a recent losing streak as selective buying emerged after a steep correction from record highs. On the Multi Commodity Exchange (MCX), silver futures opened higher at Rs 2,47,651 per kilogram, up 0.12 per cent from the previous close, before extending gains to nearly 1.38 per cent during the session.
The recovery comes after silver prices slipped in recent days due to weak global cues, profit booking, and heightened volatility across precious metals. Internationally, however, the tone remained cautious. Spot silver was trading lower at around $77 per ounce, down 0.76 per cent over the past 24 hours, as investors stayed on the sidelines ahead of key macroeconomic triggers.
Market participants are closely tracking the minutes of the US Federal Reserve’s January policy meeting, due later this week, for clearer signals on the future trajectory of interest rates. Any indication of prolonged higher rates could pressure non-yielding assets like silver, while a dovish tilt may revive bullish sentiment.
In the domestic spot market, silver prices in Delhi stood at Rs 253 per gram, or Rs 2,53,001 per kilogram, up Rs 2 from the previous day’s level of Rs 251 per gram. So far in February 2026, silver prices in the national capital have fluctuated sharply between Rs 241 and Rs 301 per gram, reflecting the metal’s elevated volatility. Domestic prices continue to be influenced by global silver trends, USD-INR movement, and local taxes.
According to Ponmudi R, CEO of Enrich Money, MCX silver futures are currently trading in the Rs 2,30,000–Rs 2,50,000 range after a sharp correction from record highs near Rs 4,20,000. While the long-term bullish structure remains intact, prices have slipped below key moving averages, pointing to short-term bearish pressure and an ongoing corrective phase. He noted that strong buying interest is visible in the Rs 2,25,000–Rs 2,35,000 support zone, which coincides with prior swing lows. A sustained hold above this base could pave the way for a recovery toward Rs 3,00,000–Rs 3,25,000, while a decisive breakdown may deepen the correction.
On the global front, COMEX silver has corrected sharply from highs above $121 and is now consolidating in the $73–$80 zone. Ponmudi said strong support lies between $65 and $70, and a recovery above $85–$92 could revive upside momentum toward $95–$105, supported by steady industrial demand and structural supply constraints.
Aksha Kamboj, Vice President at the India Bullion & Jewellers Association (IBJA), said silver is witnessing a weak but steady recovery as volatility eases. The rebound is being driven by selective buying and improving industrial sentiment, though traders remain cautious amid lingering global uncertainty.
Meanwhile, an Augmont Bullion report noted that silver prices have softened as safe-haven demand wanes amid easing geopolitical tensions. The report expects silver to consolidate in the $70–$90 range, or Rs 2,25,000–Rs 2,85,000 domestically. A break below $70 could open the door for further downside toward $64, or around Rs 2,00,000. Traders are advised to adopt a buy-on-dips and sell-on-rallies strategy in the near term.