Spot silver extends gain to 3%, currently at $90.919 per ounce.

Spot silver extends gain to 3%, currently at $90.919 per ounce.

Spot Silver Extends Gains to 3%, Reaching $90.919 per Ounce
As of February 27, 2026, spot silver surged 3% to $90.919 per ounce, marking a significant rebound following weeks of volatility after a late January price crash. The metal has regained momentum amid renewed geopolitical tensions, shifting trade policy expectations, and a weaker U.S. dollar, according to analysts.

The rally follows a sharp decline in early February when silver prices dipped to $71 per ounce. Recent upward pressure has been driven by escalating U.S.-Iran tensions, uncertainty surrounding U.S. tariff policies, and a softer dollar, which supports dollar-denominated commodities. According to market analysis, President Donald Trump's recent State of the Union address, where he reiterated plans to reimpose tariffs and address Iran negotiations, further amplified market jitters.

Industrial demand also plays a role. Silver's critical use in solar panel manufacturing, electric vehicles (EVs), and electronics has bolstered its appeal, with the International Energy Agency estimating global solar capacity could quadruple by 2030. Meanwhile, structural supply constraints—stemming from silver being a byproduct of other metal mining—have exacerbated price sensitivity to demand shifts.

Market analysts highlight the interplay of macroeconomic factors. "Silver is behaving like 'gold on leverage' during periods of geopolitical and monetary uncertainty," noted Yuxuan Tang of JP Morgan Private Bank. Citigroup projects silver could approach $100 per ounce within three months, citing falling real yields and persistent supply deficits.

Technical indicators suggest a continuation of the bullish trend, though caution is warranted. The Relative Strength Index (RSI) is overbought, and a bearish divergence has emerged as momentum wanes. Key resistance lies near $91.11, while support is expected at $79.38 and $70.33.

Investor sentiment remains mixed. Silver ETFs have seen renewed inflows, with the SLV ETF recording nearly $100 million in net inflows in early February. However, analysts caution that a sharp rise in real yields or a U.S. dollar rebound could trigger corrections.

For now, silver's trajectory reflects a convergence of geopolitical risk, industrial demand, and monetary policy shifts—a dynamic likely to keep the metal in focus for investors and markets.