Silver Market Report: February 28, 2026
Silver prices have surged significantly in the past week, closing at $92.02 per ounce on February 27, 2026, marking a robust 5.77% increase from the previous trading session. This rise is attributed to a combination of factors, including a weakening U.S. dollar, uncertainty surrounding Federal Reserve rate policies, and increased central bank accumulation. Additionally, global supply challenges have contributed to the upward price movement.
Key Market Data
The silver market opened the week at $87.07 per ounce on February 26, 2026, but quickly rebounded from a brief downturn to reach new highs. The daily high on February 27 was recorded at $92.02, while the low was $87.07. Over the past month, silver has seen a dramatic increase of 47.67%, and a staggering 202.7% rise year-over-year, according to YCharts.
The gold/silver ratio currently stands at 57.0, with gold priced at $5,246.70 per ounce. This ratio signals a possible shift in market dynamics, as silver traditionally plays catch-up to gold in mature bull markets. Market observers often consider a decreasing ratio as an indicator of silver’s potential to outperform gold in the near term.
Industrial Demand and Supply Factors
Silver’s industrial demand remains robust, driven by its critical role in sectors like electronics and solar energy. However, precise demand figures for these sectors were not updated in the last 48 hours. Supply-side constraints remain a concern, particularly in light of China’s recent export restrictions, which have cut global refined silver supply by 60-70%, as reported earlier this month. Additionally, COMEX inventories have been cited as declining, further exacerbating supply deficits, although specific inventory data from the past two days is unavailable.
Market Analysis and Outlook
This week’s rally was spurred by several macroeconomic factors. The softening U.S. dollar, following mixed economic indicators such as the February MNI Chicago PMI rising to 57.7, has supported silver prices. Institutional investors appear to be accumulating silver, betting on its continued strength amid ongoing central bank purchases of gold, which has reached approximately 850 tonnes in 2026 alone.
Looking ahead, silver may continue to see volatility as global economic conditions evolve. Analysts suggest that if supply challenges persist and industrial demand remains strong, silver prices could maintain their upward trajectory. However, investors should remain cautious, as past performance does not guarantee future results, and market conditions can change rapidly.
As always, readers are reminded that this report is for informational purposes only and does not constitute financial advice. Investors should conduct their own research and consider their financial situation before making investment decisions.
For more detailed analysis and real-time updates, visit USA Gold and CME Group.
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.
