Silver ($XAG) Commodity Forecast: Down 11.6% Today

What is Silver?

Silver is a precious metal with both industrial and investment purposes, often considered a safe-haven asset during economic instability.

Why is Silver going down?

XAG commodity is down 11.6% on Feb 2, 2026 6:42

• Recent market movements for silver were bearish primarily influenced by profit-taking and market volatility.
• The potential appointment of Kevin Warsh as the next Federal Reserve chair, viewed as a more hawkish choice, has heightened market uncertainty.
• Geopolitical tensions and economic instability, such as trade tariffs and nuclear talks, further drove down silver prices.
• Following a record surge, the notable decline in silver prices signals a phase of market consolidation and adjustment.

XAG Price Chart

XAG Technical Analysis

XAG News

Silver Hits 4-week Low

Silver decreased to 72.80 USD/t.oz, the lowest since January 2026. Over the past 4 weeks, Silver lost 4.62%, and in the last 12 months, it increased 131.92%.

Silver is down by 5.04%

Silver decreased 5.04% to 80.371 USD/t.oz

Silver Remains Volatile After 26% Plunge

Silver fell as much as 7% to around $79 per ounce on Monday before recovering above $85 an ounce, as the market continued to reel from Friday’s 26% plunge which was its biggest decline ever. The crash followed news that US President Donald Trump planned to nominate Kevin Warsh as the next Federal Reserve chair, widely viewed as the more hawkish option. Profit-taking also emerged after a relentless rally that had pushed silver to historic highs. That advance was driven by a structural deficit in the silver market and the so-called debasement trade, as investors rotated into physical assets from currencies and bonds amid concerns over rising government debt. Geopolitical and economic uncertainties, along with worries about the Fed’s independence, reinforced silver’s safe-haven appeal. Momentum buying further amplified gains, with a wave of purchases from Chinese speculators adding froth to the rally and intensifying the sell-off as they took profits.

Silver Slides Over 20%

Silver tumbled as much as 21% to around $91 per ounce Friday, as aggressive profit-taking triggered a broader retreat across the precious metals complex. The white metal had surged to a record $122 Thursday, and despite the sharp correction, it remained on track for a monthly gain of more than 30%, underpinned by heightened economic and geopolitical uncertainty, a weaker US dollar, and tight physical market conditions fueled by record investment inflows and strong industrial demand. Geopolitical risks stayed elevated after President Trump signed an executive order imposing tariffs on goods from countries supplying oil to Cuba, a move that also increases pressure on Mexico. Trump additionally urged Iran to enter nuclear negotiations, while Tehran warned of retaliation and pledged a swift response. On the monetary policy front, Trump said he had nominated former Fed governor Kevin Warsh as the next Fed chair, ending months of speculation over the future leadership of US monetary policy.

Silver Plunges on Profit-Taking After Record Rally

Silver tumbled more than 13% to around $100 per ounce on Friday, as profit-taking triggered a broader pullback across precious metals. The white metal had hit a record $121.64 on Thursday and remained on track for an over 40% monthly gain, marking a ninth consecutive month of gains, its longest winning streak in years, supported by elevated economic and geopolitical uncertainty, US dollar weakness, and a tight physical market with record investment and industrial demand. Geopolitical tensions remained high after President Donald Trump signed an executive order imposing tariffs on goods from countries supplying oil to Cuba, a move that adds pressure on Mexico. Trump also urged Iran to enter nuclear talks, while Tehran warned of retaliation and vowed a swift response. On the monetary policy front, Trump announced he had nominated former Federal Reserve governor Kevin Warsh as the next Fed chair, ending months of speculation over the leadership of US monetary policy.

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Silver Price History

26.00.2026 - XAG Commodity was up 5.1%

• Silver prices surged to all-time highs above $100 per ounce due to strong safe-haven and investment demand, as well as tightness in the physical market.
• Geopolitical tensions, trade risks, and expectations of future rate cuts have further boosted the rally in silver, with investors turning to precious metals amid economic uncertainty.
• The weakening dollar, shifting US-Europe dynamics, and the anticipation of a more dovish Federal Reserve chair appointment have also contributed to the record-breaking rally in silver.
• Retail demand, a historic short squeeze, and China's export controls tightening have intensified supply concerns and added momentum to the bullish movement in silver prices.

02.01.2026 - XAG Commodity was up 5.7%

• Silver had a volatile trading session, exhibiting significant price fluctuations, and closed with a strong bullish movement.
• Profit-taking activities after a recent price surge and escalating geopolitical tensions were the main drivers behind the market's movements.
• Market uncertainty heightened with the potential nomination of Kevin Warsh as the next Federal Reserve chair by President Trump, leading investors to turn to safe-haven assets like silver.
• The structural deficit in the silver market, worries about increasing government debt, and geopolitical risks added to the demand for silver as a store of value, contributing to its bullish performance.

02.01.2026 - XAG Commodity was down 6.0%

• Silver dropped by 5.04% to $80.371 per ounce today.
• Market volatility may be due to profit-taking after a record rally, geopolitical tensions, and uncertainties surrounding the Federal Reserve's monetary policy.
• The nomination of Kevin Warsh as the potential next Federal Reserve chair, viewed as a more hawkish option, could have influenced market reaction, in addition to concerns about rising government debt and geopolitical risks.
• The structural deficit in the silver market and investors shifting to physical assets amid economic uncertainties also impacted the price decline.

02.01.2026 - XAG Commodity was down 11.6%

• Recent market movements for silver were bearish primarily influenced by profit-taking and market volatility.
• The potential appointment of Kevin Warsh as the next Federal Reserve chair, viewed as a more hawkish choice, has heightened market uncertainty.
• Geopolitical tensions and economic instability, such as trade tariffs and nuclear talks, further drove down silver prices.
• Following a record surge, the notable decline in silver prices signals a phase of market consolidation and adjustment.

30.00.2026 - XAG Commodity was down 7.2%

• Silver dropped over 6% from a record high near $120 per ounce as investors took profits, following waning confidence in US assets and geopolitical tensions.
• The bearish movement could be attributed to profit-taking by investors after a significant rally, as well as the rebound of the US dollar and uncertainties surrounding global trade and economic stability.
• Despite the pullback, silver's strong performance year-to-date, driven by safe-haven demand and industrial usage, indicates continued interest in the metal as a hedge against economic uncertainty.
• The market movement also reflects the impact of geopolitical events, such as threats from Iran and trade tensions, on precious metal prices, highlighting the interconnectedness of global events and commodity markets.

30.00.2026 - XAG Commodity was down 15.1%

• Silver plummeted over 13% to around $100 per ounce as profit-taking ensued following a record rally, with investors capitalizing on the white metal's recent surge in price.
• Geopolitical tensions, including President Trump's tariff threats and Iran's warnings of retaliation, added to the market volatility and contributed to the pullback in silver prices.
• The broader pullback across precious metals, coupled with profit-taking activities, led to the sharp decline in silver as investors sought to lock in gains amid the ongoing economic and geopolitical uncertainties.
• Despite the bearish movement, silver had recently experienced a remarkable rally, supported by factors such as US dollar weakness, elevated economic uncertainty, and strong industrial and investment demand, highlighting the metal's status as a safe-haven asset during turbulent times.

30.00.2026 - XAG Commodity was down 21.9%

• Silver plummeted over 20% to around $91 per ounce due to aggressive profit-taking after hitting a record high of $122. The pullback was triggered by a combination of factors such as geopolitical tensions, including tariffs on oil-supplying countries and nuclear negotiation talks with Iran, as well as the nomination of a new Fed chair.
• Despite the sharp correction, silver remained on track for a monthly gain of more than 30%, supported by a weaker US dollar, tight physical market conditions, and strong industrial demand.
• The bearish movement can be attributed to investors taking profits after a prolonged rally, as well as uncertainties surrounding US monetary policy, geopolitical risks, and global trade tensions.
• The safe-haven rush that drove silver to new highs was overshadowed by profit-taking and market corrections, highlighting the volatile nature of precious metals in response to changing economic and geopolitical dynamics.

23.00.2026 - XAG Commodity was up 6.3%

• Silver surged to new all-time highs, nearing $99 per ounce, driven by a weakening dollar and increased demand for real assets amidst shifting geopolitical dynamics.
• The rally in silver was further fueled by a historic short squeeze, strong retail buying, and export controls from a major economy, highlighting the metal's appeal as a safe haven asset in times of uncertainty.
• Statements from a notable political figure easing fears of a deeper geopolitical and trade dispute contributed to a pullback in silver prices, but the market remains sensitive to renewed stress in currencies, sovereign debt, or trade policy, given the persistent physical tightness and global supply deficits in the silver market.

23.00.2026 - XAG Commodity was up 5.4%

• Silver broke the $100 mark and hit fresh all-time highs due to a weakening dollar, geopolitical uncertainties, and broader economic concerns, leading investors to seek refuge in precious metals.
• Expectations of the Federal Reserve maintaining current interest rates and potential future rate cuts added to the positive momentum in silver prices.
• The market saw a historic short squeeze, heightened retail purchasing, and stricter export controls from China contributing to supply worries and boosting silver's upward trajectory.
• While there was a slight retreat post the US GDP data showing economic resilience, silver's upward trend persists due to ongoing physical market tightness and sustained global supply deficits for the fourth year in a row.

27.00.2026 - XAG Commodity was down 5.4%

• Despite the recent bullish trend in silver prices driven by safe-haven demand and geopolitical tensions, today's bearish movement could be attributed to profit-taking by investors after the metal reached record highs.
• The market may have reacted to the news of the US President's threats to raise tariffs on South Korean goods and the uncertainty surrounding the upcoming US Federal Reserve policy decision, leading to a temporary pullback in silver prices.
• It is essential to monitor the market sentiment closely in the coming days to see if this bearish movement is a short-term correction or the beginning of a more significant trend reversal in the silver market.

27.00.2026 - XAG Commodity was down 8.2%

• Silver surged more than 6% to above $110 per ounce, extending its record run due to geopolitical and trade risks, investor flight from sovereign bonds and currencies, and safe-haven demand.
• The threat of increased tariffs on South Korean goods by US President Donald Trump, concerns about the Federal Reserve's independence, and speculation about a new Fed chair announcement have added to the market volatility.
• The debasement trade, where investors shift from bonds and currencies into real assets, has further fueled the rally in precious metals like silver amidst unease over heavy fiscal spending in major economies.
• Despite the recent bearish movement, the overall bullish sentiment towards silver remains strong, driven by a combination of macroeconomic factors, geopolitical tensions, and safe-haven demand.

28.00.2026 - XAG Commodity was up 6.7%

• Silver prices surged to fresh record highs as investors sought safe-haven assets amidst a sharp decline in the US dollar, driven by uncertainties surrounding US policies and trade tensions.
• The threat of increased tariffs on South Korean goods by US President Donald Trump and speculations about a new Federal Reserve chair announcement added to the bullish sentiment for silver.
• Robust retail demand in China and India, along with a shift in production from jewelry to investment products by manufacturers, further fueled the rally in silver prices.
• The debasement trade, where investors move from traditional assets like bonds and currencies to real assets like precious metals, also contributed to the bullish momentum in the silver market.