Silver Rises Over 120% YTD 
Daily News Nuggets | Today’s top stories for gold and silver investors
February 6th, 2026 | Brandon Sauerwein, Editor
Silver’s Wild Ride Continues in Thin Markets
Silver whipsawed again Thursday, plunging as much as 17% before rebounding 6% in Asian trading. The metal has now lost over a third of its value since hitting an all-time high of $121.64 on January 29.
Thin liquidity is amplifying every move. Silver’s smaller market makes it volatile even in calm conditions. Recent swings, however, are the most extreme since 1980. Market makers are widening spreads and stepping back, leaving liquidity weakest precisely when it’s needed most.
Chinese buyers — who powered much of the rally — have stepped aside. Prices in Shanghai have flipped to a discount versus global benchmarks. The nine-day Lunar New Year break starting February 16 is keeping traders light on positions, draining demand as volatility peaks.
That kind of instability rarely stays contained. It quickly spills into margin rules, risk controls, and forced selling across futures markets.
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CME Hikes Margins Again as Metals Volatility Persists
For the third time this week, CME Group raised margin requirements on gold and silver futures. Gold margins rise to 9% from 8%. Silver margins jump to 18% from 15%. The changes take effect after Friday’s close.
Higher margins force traders to post more collateral per contract. That raises the cost of leveraged positions. It typically reduces speculation but can trigger forced selling when traders fail to meet requirements.
The timing is critical. Markets are still reeling from historic swings. Silver is down over 30% from its peak. Gold has fallen nearly $900 from recent highs. In this environment, margin hikes can cut excess leverage but also intensify sell-to-raise-cash cycles if volatility continues.
When futures markets tighten risk controls, the effects rarely stay isolated. The shockwaves are now spilling into physical gold demand and dealer behavior.
India Gold Premiums Collapse as Buyers Step Back
Gold premiums in India plunged to $70 per ounce this week from $153 last week, the highest level since 2013. The sharp drop signals buyers are retreating amid extreme price volatility.
Dealers point to confusion over price direction. After gold surged to 180,779 rupees per 10 grams, many buyers paused. They were unsure whether to chase rallies or wait for deeper pullbacks. India’s finance minister left import duties unchanged in the latest budget, removing one uncertainty. Demand, however, remains subdued.
China showed more resilience. Gold premiums there rose to $35 from $32 as buyers prepared for the Lunar New Year. The contrast highlights a familiar pattern. When prices swing this violently, retail buyers in major gold markets tend to freeze.
Short-term demand may be on hold. Longer-term expectations, however, appear far less shaken.
Analysts Double Down on Gold Despite Selloff
A Reuters poll of 30 analysts shows median 2026 gold forecasts rising to $4,746 per ounce. That’s up from $4,275 in October and nearly double last year’s $2,700 forecast. It’s the highest annual projection in Reuters polling history, which dates back to 2012.
The upgrades come despite gold’s recent $900 pullback from record highs. Analysts argue the core drivers remain intact. They point to rising geopolitical risks, steady central bank buying, questions around Fed independence, growing U.S. debt, and ongoing de-dollarization.
Deutsche Bank says gold’s long-term tailwinds remain firmly positive. J.P. Morgan continues to target $5,000 by year-end. Silver forecasts also moved higher, rising to $79.50 from $50. Analysts caution, however, that silver volatility will stay elevated as industrial demand softens and speculative positions unwind.
Crypto Firm Tether Bets $150M on Digital Gold
Tether, the company behind USDT, invested $150 million for a 12% stake in Gold.com. The move goes beyond crypto speculation. The deal integrates Tether Gold (XAUT), a gold-backed token, directly into Gold.com’s platform.
Each XAUT token represents one ounce of physical gold stored in Swiss vaults. It offers gold exposure with blockchain portability, without storage or insurance headaches. The setup blends gold’s stability with digital flexibility.
The deal bridges two investor worlds. Crypto-native investors gain direct gold exposure. Traditional gold buyers gain digital access and liquidity. Tokenized gold is growing fast. XAUT and Paxos Gold now total about $1.5 billion in market value.
For Tether, this supports diversification beyond stablecoins into commodities and other real assets. For Gold.com, it brings capital and reach. The takeaway is clear: even in digital finance, gold remains the trusted anchor.
