New York, Feb 26, 2026, 17:21 EST — After-hours
- Spot silver slipped roughly 1% to about $88.3 per ounce, unable to maintain a foothold above $90 earlier in the session.
- Geopolitical tensions, along with changing bets on U.S. rate cuts, were cited by traders as short-term movers.
- Silver-linked ETFs swung sharply during regular U.S. hours.
Silver slipped late Thursday, spot XAG/USD settling near $88.29 an ounce—off roughly 1% from the previous close. The metal bounced between $85.26 and $90.36 during the session.
This matters. Silver’s been swinging: sudden surges, then steep drops. On Wednesday, it burst past $90 as buyers piled in, only to hit a wall of selling the next day.
Geopolitics remain a key swing factor right now. Investors are zeroed in on the U.S.-Iran nuclear talks in Geneva, parsing every development for clues that might sway risk sentiment one way or the other. “Gold and silver are attempting to break above resistance levels at $5,200 and $90 but have failed to sustain gains,” wrote Razan Hilal, a market analyst at FOREX.com. Reuters
Rates remain in flux. Chicago Fed President Austan Goolsbee reiterated his view that several rate cuts are likely in 2026, but cautioned against hasty action as inflation’s path is far from settled.
Investors are also shifting their rate-cut expectations as speculation grows around Kevin Warsh’s likely nomination as Fed chair. Markets are now betting the first rate cut won’t show up before mid-year.
The U.S. dollar index edged a bit higher, while silver futures dipped, limiting any real upside for silver in the absence of new headlines.
iShares Silver Trust (SLV) took traders on a ride—shares dipped to $77.22 before rebounding and closing up at $80.44 in U.S. equity trading, according to Investing.com data.
But silver bulls face clear hazards. A diplomatic deal that undercuts safe-haven demand, or a tweak in U.S. rate outlooks that holds real yields firm—either scenario could snap silver back down to its recent lows in a hurry.
It’s a choppy scene. Silver spiked to an all-time high late January, only to tumble sharply, putting traders on edge around key chart spots. “Resistance,” as they call it, just marks the price area where sellers usually step in. Reuters
Next up, traders are eyeing fresh headlines from Geneva, along with the upcoming U.S. personal income and outlays report—home to the PCE price index—scheduled for March 13.
