Weekly Silver Market Analysis: February 28, 2026
This week saw significant activity in the silver market, with notable price fluctuations and shifts in industrial demand influencing investor sentiment. Silver’s spot price closed at $92.02 per ounce on February 27, 2026, reflecting a substantial gain of $5.02 or 5.77% from the previous day’s close, as reported by USA Gold. Despite this weekly recovery, the month of February has been marked by volatility, with silver prices experiencing sharp declines earlier in the month.
Weekly Price Performance
The week began with silver trading at $87.07 per ounce on the morning of February 26, experiencing a drop of $3.68 from its previous close, according to Fortune. However, by the end of the week, silver had rebounded, indicating resilience amid fluctuating market conditions. The MCX silver price in India remained stable at ₹2,85,000 per kg, showing no change over the week, although it has seen a notable monthly decline of 18.57% from its February peak, as noted by Sunday Guardian Live.
Industrial Demand and Supply Concerns
Industrial demand for silver, particularly from the solar sector, continues to be a major driver. Silver demand for solar applications is projected to reach 232 million ounces this year, a 19.9% increase year-over-year, according to APMEX. This surge is fueled by the growing adoption of renewable energy technologies globally. Meanwhile, supply constraints have been exacerbated by China’s recent export restrictions, which have reportedly cut 60-70% of the global refined silver supply, adding upward pressure to prices.
Gold/Silver Ratio Trends
The gold/silver ratio stood at 57.0 on February 27, 2026, with gold priced at $5,246.70 per ounce. This ratio, which measures the amount of silver ounces needed to purchase one ounce of gold, has been relatively stable, suggesting a balanced demand for both metals. Historically, a lower ratio indicates stronger demand for silver relative to gold, and vice versa.
COMEX Inventory and Market Sentiment
COMEX silver inventories have been under pressure, with reports of collapsing stocks amid ongoing supply deficits. This persistent tightness in supply is a reflection of both increased industrial demand and geopolitical factors, including the aforementioned export constraints from China. However, exact registered versus eligible inventory numbers have not been updated in the past 48 hours, leaving some uncertainty in the market.
Outlook for the Coming Week
Looking ahead, the silver market may continue to experience volatility. Factors such as central bank demand, geopolitical tensions, and ongoing supply chain constraints could influence price movements. Analysts suggest that while silver prices have shown strength this week, the market remains sensitive to macroeconomic indicators, including U.S. dollar movements and interest rate policies. As always, investors are reminded that past performance does not guarantee future results, and market conditions can change rapidly.
While the recent rebound in silver prices offers some optimism, the sustainability of this trend will depend on how supply and demand dynamics evolve in the coming months. Investors and market participants should stay informed of both industrial developments and broader economic indicators to navigate this complex landscape effectively.
Investment Disclaimer: This article is for informational purposes only and does not constitute financial, investment, or trading advice. The content should not be construed as a recommendation to buy, sell, or hold any security or commodity. Past performance is not indicative of future results. Mining investments carry significant risks, including the potential loss of principal. Always conduct your own research and consult with a qualified financial advisor before making investment decisions. MineListings.com and its authors may hold positions in securities mentioned in this article.
