Silver price forecast: Expert’s predictions and analysis on safe-haven demand

New Delhi: On Multi Commodity Exchange (MCX), the Silver futures price jumped by 2.52% i.e. Rs 6,365 to reach Rs 2,58,913 per kg. On 10 February, Silver prices went down by Rs 7,500 or nearly 3 per cent to Rs 2.64 lakh per kg in Delhi. According to the All India Sarafa Association, Silver rate fell Rs 7,500 to Rs 2,64,500 per kg (inclusive of all taxes) from Monday’s closing of Rs 2,72,000 per kg.

Commenting ion the Silver prices, Commodity expert Ajay Suresh Kedia said Silver advanced more than 1% to trade near $82, rebounding from the previous session’s losses as weak US economic data lifted safe-haven demand. December retail sales unexpectedly showed no growth, underscoring mounting pressure on consumer spending.

Silver Price outlook

Attention has now shifted to the delayed January jobs report, where a softer reading could further support precious metals. Markets are currently factoring in about 60 basis points of Federal Reserve rate cuts by year-end. At the same time, investors are rotating away from dollar-denominated assets amid policy uncertainty, although recent sharp rallies and sell-offs have kept volatility concerns elevated, the expert said.

Giving his view point on the future of Silver, Kedia said Silver prices sustaining above $80.80 suggest continued upward momentum. While the metal holds above this level, it is likely to initially test $83.50, followed by the next resistance at $85.20. On the downside, $78.60 is expected to act as immediate support; a break below this level could invite short-term selling pressure.

Silver Price City Wise list

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