Silver Market Report: February 20, 2026
The silver market showed significant movement recently, with the spot price closing at $79.20 per ounce on February 19, 2026. This represents an increase of $1.53, or 1.97%, from the previous close, reflecting a notable rebound in the precious metals market. The day’s range saw silver reaching a high of approximately $79 per ounce, with an opening price recorded at $77.81 per ounce. The gold/silver ratio stood at 64.2, as gold hovered near its $5,000 per ounce mark, illustrating the relative strength of silver in the current market environment.
Key Data Points and Market Drivers
Silver’s recent gains are attributed to a combination of factors, including geopolitical tensions, particularly between the U.S. and Iran, and anticipations of central bank monetary policy shifts. The Federal Reserve’s minutes have fueled expectations of potential interest rate cuts, a development typically beneficial for precious metals like silver. Furthermore, central bank purchases, which recently hit a 2,000-tonne milestone, have bolstered market confidence in silver’s value.
Industrial demand remains a critical driver for silver’s price trajectory. The ongoing expansion in solar energy projects, which heavily rely on silver for photovoltaic cells, continues to underpin expectations for tight supply. As the green energy transition accelerates, this demand could provide sustained support for silver prices in the months ahead.
COMEX Inventory and Futures
While specific recent data on COMEX silver inventories remains sparse, the February 2026 contract indicates a settlement at 74.305, experiencing an increase of 0.765 or 1.04% from prior settlements. This uptick aligns with the broader market momentum seen over the past weeks.
Market Analysis and Outlook
The silver market’s upward movement this week is a continuation of its broader recovery, following last month’s dip of approximately 17.91%. Despite a recent dip to the mid-$70s, silver has rebounded robustly, gaining 135.71% year-over-year as of February 19, 2026. Analysts suggest that while volatility may persist, the combination of geopolitical factors, monetary policy expectations, and industrial demand could sustain silver’s bullish momentum through the first half of the year.
Investors should remain cautious, as silver’s price is historically volatile, and external factors such as currency fluctuations or abrupt policy changes could impact its value. It is crucial to note that past performance does not guarantee future results, and individual investment strategies should consider personal risk tolerance and market conditions.
As the market progresses, stakeholders will closely watch for further developments in U.S.-Iran relations and Federal Reserve policy announcements, which could significantly influence silver’s path. The potential for rate cuts by the Fed, combined with ongoing industrial demand, may continue to support silver’s appeal as both an investment and a critical industrial metal.
For those observing the silver market, staying informed on geopolitical developments and industrial trends will be essential in navigating this dynamic asset class.
Please note that this article is for informational purposes only and does not constitute financial advice. Investors should conduct their own research or consult with a financial advisor before making investment decisions.
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