Silver Rebounds 10% After Record Selloff

2026-02-03 14:13 By Joana Ferreira 1 min. read

Silver jumped more than 10% to around $87.5 per ounce on Tuesday, rebounding after a historic selloff that saw prices plunge a record 27% on Friday and fall another 6% on Monday.

The sharp swings followed profit-taking after a strong rally pushed the metal to fresh record highs last week and as US President Donald Trump nominated Kevin Warsh as the next Fed chair, a pick widely viewed as more hawkish than markets had expected.

Prior to the drop, silver had been buoyed by heightened geopolitical and economic uncertainty, concerns over currency debasement, and fears surrounding the Federal Reserve’s independence, all of which supported safe-haven demand.

A persistent structural supply deficit, along with strong investment inflows, particularly from Chinese speculators, also fueled the earlier surge.

Meanwhile, geopolitical risks remain in focus, with US-Iran talks scheduled for Friday and Ukraine preparing for renewed peace negotiations following fresh Russian strikes.



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