New York, Feb 10, 2026, 05:50 EST — Premarket
- Silver slipped, giving back some of its gains after a strong start to the week.
- Precious metals lost a little ground as the dollar strengthened and equities firmed up.
- This week, traders are eyeing U.S. payrolls and inflation data as the next big catalysts.
Spot silver dropped 1.4% to $82.20 an ounce by 0900 GMT, reversing after a surge of almost 7% the prior day. A stronger dollar and a shift by investors back toward risk assets weighed on prices.
Silver’s acted like a momentum play since late January, swinging enough to shake out many holders. Now, with another batch of U.S. data on deck, the metal faces more rate speculation—hawkish or dovish, either way. When markets get jumpy, silver typically tracks moves in the dollar and yields.
This week, traders are watching for two big reads: the U.S. nonfarm payrolls report lands Wednesday, followed by inflation numbers on Friday. Silver often takes a hit if rate cut bets get delayed—since it doesn’t pay interest, better real yields elsewhere make the metal less appealing.
Monday’s rebound had the hallmarks of a dollar-driven move. “Unless silver clears $92.24, I’m not convinced of a medium-term uptrend,” wrote Kelvin Wong, senior market analyst at OANDA, in a note cited by The Daily Star. The publication also pointed to bargain-hunting picking up as the greenback lost ground. The Daily Star
The iShares Silver Trust ETF (SLV) ended the last session at $76.04, but premarket quotes had it down to $74.62, per Investing.com data. Moves like this show just how fast sentiment can swing, even in heavily traded silver names.
In India, MCX silver futures slipped Tuesday morning. Jigar Trivedi of IndusInd Securities put a short-term floor near ₹2,58,000 per kg, with traders sitting tight for cues from U.S. macro data.
Silver bulls are staring down a clear risk: any strong U.S. data could boost the dollar, squeezing demand for non-yielding assets further. Still, a weak jobs report or softer inflation would probably spark fresh rate-cut chatter. That scenario might pull the dollar lower and set up silver for another rally.
Silver sits in a tricky spot, caught between its reputation as a safe haven and its role tied to industrial demand—two forces often at odds. When stocks take off and rate expectations shift, that push-pull tends to muddy the price action.
Right now, traders are eyeing Wednesday’s U.S. payrolls number (Feb. 11) and Friday’s inflation release (Feb. 13) as the key market events. Silver is in focus, with traders ready to react if the data knocks the dollar down—or props it up again.
