Why are silver and gold falling again?
The situation in the precious metals market today, February 12, 2026, resembles the 'déjà vu' of the recent January crash. Silver lost more than 10% in just a few minutes, and gold ($XAU) once again broke the psychological support, dropping below 4900.
🔍 Key triggers for the decline:
The 'domino effect' and margin calls: After the first wave of collapse at the end of January, the market became extremely sensitive. Today's drop of 10% in 30 minutes is a classic cascade of liquidations. Algorithmic systems sold off traders' positions that lacked collateral (margin calls), accelerating the decline vertically.
Today's news from Oman regarding negotiations between the U.S. and Iran is mixed. Rumors have emerged about a possible signing of a temporary memorandum. If the threat of war in the Middle East decreases, investors quickly exit gold ('safe haven') for riskier assets.
Inflation data expectations: Tomorrow's reports from the U.S. may show that inflation is slowing down faster than expected. This gives the new Fed chair, Kevin Warsh, the green light for a less aggressive policy, which paradoxically strengthens the dollar and puts pressure on metals.
Gold: The level $4 900 has turned from support into resistance. As long as the price is below this mark, bears will aim for the $4 650 - $4 700 zone.
Silver: The metal has again confirmed its status as 'gold on steroids.' A drop below $80 opens the way to test the local bottom at $70.80.
Today's movement is pure volatility caused by low liquidity and panic. The best strategy now is to wait for price stabilization (at least 4 hours in a sideways movement) before opening new positions.
The metal market in 2026 has become as volatile as crypto in 2021.
