#Silver Price News & Insights Today 2-2-2026 - Technical analysis of Silver, key support and resistance zones. Video by MCO Global Equities & Commodities.
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Silver is currently trading at $82.54 per ounce as of 10:00 a.m. ET on February 2, 2026. The market is experiencing extreme volatility following a historic "meltdown" that began on Friday, January 30, 2026, when silver suffered its largest one-day decline on record, plunging nearly 30% from an all-time high of $121.64. While the price has stabilized slightly today—up from a daily low of $71.20—it remains down significantly from last week's peaks.
Silver Insights
-Market Crash & Correction: Analysts describe the recent price action as a "lift" falling after a rapid "escalator" rise. The crash followed weeks of relentless surges driven by a structural deficit and "meme/YOLO" trading retail activity.
-The "Warsh" Effect: Markets point to the confirmation of Kevin Warsh as the next Federal Reserve Chairman as a primary trigger for the sell-off. Warsh is viewed as more hawkish ("hard money"), leading to a rebound in the U.S. Dollar and an unwinding of overcrowded precious metal trades.
-CME Margin Hikes: Selling accelerated today as the CME Group implemented higher margin requirements for silver futures, effective at today's market close, forcing many traders to unwind positions.
-Gold/Silver Ratio: The ratio stands at approximately 60.42, up from roughly 58 last Friday, as silver's decline outpaced gold's.
