Silver rate prediction today: Silver prices, which stunned markets with a sharp rally earlier this year, are now navigating a critical consolidation phase after a steep correction from record highs. Analysts believe that the current weakness may be setting the stage for a directional move by early March, with price behaviour over the next few weeks expected to decide whether silver resumes its longer-term uptrend or extends the corrective phase.
Silver’s bull run, which came to an abrupt halt towards the end of January, has dragged prices nearly ₹2 lakh below peak levels. From its all-time high of ₹4,20,000 per kg on the Multi Commodity Exchange (MCX) on January 29, silver prices are down about 46%, reflecting profit booking, thinner global liquidity and uncertainty around interest rates.
Despite the sharp fall, analysts argue that silver’s broader structural story remains intact, with years of supply deficits, strong industrial demand and growing investor interest continuing to underpin the metal over the medium to long term.
Silver Price Predictions
According to NS Ramaswamy, Head of Commodity & CRM at Ventura, silver’s current corrective structure closely resembles past accumulation phases that preceded major expansions. He noted that seasonally, the Chinese New Year period—lasting until around February 20—typically brings temporary volatility and lighter institutional participation, keeping prices range-bound.
Ramaswamy said, “Silver’s current corrective structure appears consistent with historical accumulation before expansion. Once the Chinese New Year concludes, liquidity and physical demand usually rise, triggering a cyclical uptrend that often begins in late February or early March.”
From a technical perspective, silver is believed to have established a near-term floor between $74 and $75 per ounce. Ramaswamy explained that the February 15–18 period is crucial for establishing short-term direction, while February 20–24 could act as confirmation of trend strength.
“A breakout above $80 would mark the beginning of the expansion phase, opening the door to $85–$90,” he said. He added that February 26 to March 5 carries the highest probability of a sustained breakout, with prices potentially moving above $90 if momentum strengthens.
Echoing a more cautious trading stance, Renisha Chainani, Head of Research at Augmont, said silver is likely to remain volatile in the near term. “Silver is expected to trade weak and consolidate in the $70–$90 range, roughly translating to ₹2,25,000– ₹2,85,000. Traders should adopt a buy-on-dips and sell-on-rallies approach,” she said. Chainani cautioned that a breakdown below $70 could trigger further downside toward USD $64, or around ₹2,00,000.
Why silver corrected sharply despite strong fundamentals
The recent decline in silver has been driven largely by macro uncertainty rather than a deterioration in fundamentals. Gold and silver witnessed wild swings over the past two weeks, remaining well below late-January peaks despite some dip-buying support. Safe-haven demand resurfaced amid rising tensions between the US and Iran, lending intermittent support to precious metals.
However, prices struggled to sustain rallies as markets remained uncertain about the US interest rate outlook. Attention has also shifted to the potential inflationary impact of tariffs, which has yet to fully reflect in economic data, adding to doubts over the US Federal Reserve’s policy credibility.
Market expectations now point to a sooner-than-expected rate cut in June 2026, with traders pricing in two rate reductions in 2026, amid shifting narratives around Fed leadership. A broader disinflationary trend has strengthened the case for easing, with Fed Vice Chair Philip Jefferson stating that disinflation is likely to continue into 2026, supported by strong productivity growth.
Reflecting these expectations, the US Dollar Index has lost momentum, slipping below the psychological 97 level. Analysts say upcoming FOMC minutes on February 18 and PMI data on February 20 will be critical in determining whether the dollar breaks below 96 or rebounds toward 98. Until clarity emerges, silver is likely to remain volatile.
Despite near-term pressure, silver continues to enjoy long-term structural support from robust industrial demand across solar PV, electric vehicles, electronics, and rising investor flows into physical silver and ETFs. Analysts believe that once macro headwinds ease and liquidity improves post-February, silver could regain momentum, with March shaping up as a decisive month for price direction.
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.
