Silver rate today rose around 3% on MCX on Wednesday, February 11 as US Treasury bond yields declined ahead of US jobs data later today. Gold price also gained.
Silver price on MCX jumped as much as 2.7% to its day’s high of ₹2,59,418 per kg while MCX gold price advanced 1% to its day’s high of ₹₹1,58,436 per 10 grams.
Globally, Spot silver was up 2.2% at $82.43/oz, after falling more than 3% in the previous session. Meanwhile, Spot gold was 0.5% higher at $5,049.59 per ounce by 0242 GMT. US gold futures for April delivery gained 0.9% to $5,073.40 per ounce.
Silver, gold price: Reasons for today’s gains
US Treasury yields slipped on Tuesday after a series of economic indicators pointed to signs of slowing momentum, reinforcing expectations that the Federal Reserve may have greater flexibility to ease interest rates. Lower yields typically make non-yielding assets like precious metals more attractive, while also signaling a softer macroeconomic backdrop that tends to support demand.
Data showed US retail sales were flat in December, as consumers cut back on spending on motor vehicles and other high-value purchases. The slowdown has raised concerns that consumer demand, a key driver of the US economy, may lose steam in the coming months. Market participants are now closely watching the January non-farm payrolls report due later in the day, along with inflation data scheduled for Friday, for clearer signals on the Fed’s next policy moves.
Interest rate expectations remain tilted towards easing. Investors are currently pricing in at least two rate cuts of 25 basis points each in 2026, with the first reduction expected as early as June.
The softer yield environment supported gains across precious metals. Spot platinum climbed 2% to $2,127.80 per ounce, while palladium advanced 1.8% to $1,738.62 per ounce, as easing financial conditions boosted appetite for the metals complex.
