The price of silver experienced a strong increase on February 9 when it rose close to 5 percent because investors purchased silver during market declines while industrial demand remained stable and market conditions became more positive.

The price of silver in the domestic market increased by 4.88 percent reaching ₹2,62,093 per kilogram. In international markets spot silver on Comex traded at slightly above $81 an ounce which represented a 5.57 percent increase from the previous trading day.

The prices reached the ₹2.30 lakh mark last week because of decreasing global market conditions which resulted in increased selling activities and greater market fluctuations. The current recovery indicates that investors are purchasing assets after the market experienced a temporary drop.

Market participants are now closely watching key US macroeconomic data, including the consumer price index (CPI) and retail sales figures scheduled for February 10 and 11. The upcoming releases will give new information about when the US Federal Reserve might start lowering interest rates. The market predicts that rate cuts will occur in late 2026 but ongoing high inflation together with strong consumer spending will postpone this process.

The US ADP report showed that private sector payrolls increased by 22000 workers in January which fell short of the 48000 expected by analysts. Federal Reserve Governor Lisa Cook has warned against further interest rate reductions because inflation risks still exist despite labor market improvements.

The reduction of geopolitical tensions has decreased the demand for safe-haven precious metals. The reports about US and Iranian officials meeting in Oman have resulted in more cautious investment behavior because investors are tracking updates from these negotiations.

An Augmont report from February 7 shows that silver prices will establish a trading range between $70 and $90 which converts to ₹2,25,000 and ₹2,85,000 per kilogram. The analysts recommend buying during price drops and selling during price increases but they warn that staying below $70 will lead to a selling trend which will reach $64 or ₹2,00,000 per kilogram.