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As of February 23, 2026, the spot silver price has been oscillating at a high level between $86 and $87 per ounce, with a slight intraday decline of 0.52%. Considering the current market environment, the future trend presents a pattern of “short-term volatility and medium-term strength.”

📈 Short-term trend: High-level oscillation, watch for pullback

Currently, the price is at a recent high, and technical indicators show the RSI approaching overbought territory, indicating short-term profit-taking pressure.

Key support: $84-$85. If broken, the price may pull back to $80-$82 for support.

Key resistance: $88-$90. A successful breakthrough could open upward space toward $92-$100.

🚀 Medium-term trend: Supply-demand gap supports upward shift

Despite intense short-term fluctuations, the medium-term fundamentals remain relatively strong, with institutions generally optimistic about the upward shift of the price center.

Core logic: The global silver market has experienced supply shortages for the sixth consecutive year, with inventories falling to historic lows. Meanwhile, industrial demand from solar PV, AI servers, and other sectors continues to surge, providing solid support for prices.

Macro positive factors: The Fed’s rate cut expectations are rising, and a weakening dollar reduces the opportunity cost of holding silver, benefiting the precious metals sector.

⚠️ Risk Warning

Silver volatility is much higher than gold and is easily affected by speculative capital inflows and outflows. It is recommended to avoid blindly chasing highs, monitor the effectiveness of the $84 support level, and be alert to the risk of deep corrections if this level is broken.