The silver market experienced significant turbulence on February 14, 2026, as prices fell sharply by 5% to $77.62 per ounce. This marks a notable decline from the previous day’s close of $82.49, underscoring ongoing volatility in the precious metals sector. In India, the MCX silver market mirrored this downturn, crashing by ₹15,000 to ₹2,80,000 per kg, highlighting global pressures on silver prices.
Market Action: Key Levels and Price Movements
Silver’s recent price performance has been marked by extreme volatility, with the metal losing 16.70% over the past month after reaching an all-time high of $121.64 in January 2026. Today’s decline represents the third consecutive weekly loss, a trend exacerbated by broad cross-asset liquidation as investors moved away from precious metals, equities, and cryptocurrencies simultaneously.
The gold/silver ratio now stands at approximately 63.4:1, indicating silver’s relative strength against gold despite recent setbacks. This ratio reflects silver’s outperformance, driven by industrial demand and recent volatility corrections.
Analysis: Drivers Behind the Decline
Several factors are contributing to silver’s current market dynamics. The recent correction follows a wave of profit-booking after silver’s earlier surge amid geopolitical tensions in the Middle East. Furthermore, softer-than-expected U.S. inflation data briefly spurred a rally, but gains were quickly reversed as market sentiment turned bearish.
Industrial demand from sectors such as solar power and 5G technology remains a critical support for silver prices. However, the market’s oversold condition has not yet translated into sustained price recovery, as evidenced by today’s selloff.
Context: The Bigger Picture
Silver’s dramatic price movements this year reflect broader market uncertainties. Despite the current downturn, silver remains significantly higher than its value a year ago, having risen by approximately 141.48% from $32.34 per ounce. This long-term growth underscores the metal’s enduring appeal as both an industrial commodity and a hedge against economic instability.
In addition, the market’s reaction to macroeconomic indicators, such as inflation data and geopolitical developments, continues to drive short-term volatility. Investors are closely watching these factors as they navigate the complex landscape of global financial markets.
Outlook: What to Watch Next
Looking ahead, market participants will be keenly observing the critical support level at ₹2,75,000 per kg in India. A breach of this level could trigger further declines, potentially pushing prices towards ₹2.60 lakh per kg. Conversely, any positive developments in industrial demand or macroeconomic stability could catalyze a technical rebound.
Analysts suggest that silver’s path forward will largely depend on its ability to weather ongoing volatility and capitalize on industrial demand from emerging technologies. Although past performance is no guarantee of future results, silver’s historical resilience may offer opportunities for investors willing to navigate current market conditions.
For those tracking the silver market, staying informed on industrial trends and geopolitical developments will be essential. As always, it’s important to approach investment decisions with caution, considering the inherent risks and potential rewards of engaging in the precious metals market.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. Market conditions are subject to change, and past performance does not guarantee future results.
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