Silver plunged mid-February after easing U.S.–Iran tensions and thin Asian trading during Lunar New Year, while Indian futures bucked the decline as local demand and currency dynamics pushed prices higher. Mining equities also softened as investors digested the price swing.

A rapid, policy-driven collapse in silver prices in early February erased months of gains. Sharp CME margin increases, record deliveries and falling COMEX inventories produced extreme volatility and delivery risk — implications that matter for traders and industrial users alike.

A violent silver collapse this week — driven by Fed appointment headlines and steep CME margin hikes — sparked massive liquidations before a swift bounce. Structural supply deficits, strong industrial demand (notably solar and EVs), and China's strategic moves underpin a bullish medium-term outlook, but heightened volatility and historical drawdown patterns counsel caution for short-term traders.

A dramatic week for silver: a one-day 14% spike to $115, followed by an 8% pullback, driven by retail ETF inflows, supply tightness and safe-haven flows. Key watchpoints include SLV activity, Chinese trading resumption and industrial demand trends.

Silver vaulted to roughly $94/oz this week after U.S. tariff threats, new Chinese export licensing, and record ETF and retail demand tightened physical supply. Structural deficits, refinery bottlenecks and upgraded forecasts underscore continued price pressure.

Spot silver vaulted past $90/oz on Jan 14, 2026 after softer U.S. inflation data and a weaker dollar stoked Fed rate-cut expectations. In India, physical and futures prices surged to record levels—Ahmedabad hit ₹262,000/kg while MCX March contracts climbed above ₹281,000/kg—reflecting tight supply, safe‑haven buying, and robust investment demand for silver.