Silver Market Report: February 21, 2026
The silver market ended the week on a strong note, with prices climbing as investors flocked to the metal amid escalating geopolitical tensions and robust industrial demand. As of February 20, 2026, the silver spot price closed at $83.69 per ounce, marking a significant rebound in recent sessions. This represents a notable increase from the opening price of $80.46 per ounce at 8:30 AM ET the same day, according to Fortune.
Key Data Points and Market Performance
Throughout the trading session on February 20, silver prices fluctuated, recording a high of $81.033 and a low of $77.910 on the COMEX futures market, as reported by Investing.com. The closing price of $83.69 represents an impressive daily gain of 3.85% from the previous day’s close of $78.06.
The gold/silver ratio has compressed to 62.8, highlighting silver’s outperformance relative to gold. This compression is attributed to the metal’s dual appeal as both a safe-haven asset and an industrial commodity in high demand, as noted by USA Gold.
Industrial Demand and Geopolitical Factors
Silver’s recent ascent is driven by a combination of industrial demand and geopolitical tension. The ongoing U.S.-Iran nuclear tensions have spurred investors to seek refuge in precious metals, bolstering silver’s appeal as a safe-haven asset. Additionally, persistent supply deficits continue to support prices. Analysts suggest that the industrial use of silver, particularly in the solar and electronics sectors, remains robust, further underpinning the market’s strength.
Breaking news from JM Bullion highlights that the market is experiencing a structural deficit, with expectations for this trend to persist. This supply-demand imbalance, coupled with investment demand, has contributed to the metal’s upward trajectory.
COMEX Inventory Changes and Outlook
While specific COMEX inventory changes were not detailed in the latest reports, the broader market sentiment suggests a tightening supply scenario. This environment has historically supported higher prices, although it is crucial to note that past performance does not guarantee future results.
Looking ahead, market analysts suggest that silver may continue to benefit from its dual demand drivers. However, investors should remain cautious, as geopolitical developments and changes in industrial trends could influence future price movements.
As always, while silver has shown remarkable gains over the past year, climbing 129.79% from $32.39 in February 2025, it is important for investors to consider that markets can be volatile, and prices may fluctuate based on a variety of factors. This report is for informational purposes only and should not be construed as financial advice.
For those interested in the silver market, keeping an eye on geopolitical developments and industrial demand trends may provide insights into the metal’s potential performance in the coming months.
Sources: Fortune, JM Bullion, USA Gold, Investing.com.
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.
