Asian Metals Market Update for 23rd February 2026

February 23, 2026

I do not think developments in the USA w.r.t to trade tariffs will have any short-term impact on gold and silver. Correction or price fall upto ten percent, on a daily closing basis, will be a part and parcel of the short-term bullish trend.

But yeah, there can be a fall in real inflation if there is a reduction in customs duty on imports in the USA. A fall in inflation will imply a quicker pace of interest rate cuts by the Federal Reserve this year.

Nations will not want to antagonize US President Trump due to the US Supreme Court ruling that Trump's global trade tariff as illegal. What if Republicans get a super majority in the US Senate elections in November elections. Trump will take his revenge on nations that do not honor the trade tariff deal.

From a precious metal perspective, the bullish trend will be there for the remaining near over remaining ten months of the year.

The winter timing in the USA will come to an end on 7th March. My experience is that gold and silver have generally seen a slower pace of rise between March and August. (Unless there are some new threats and surprises.)

March-April has seen some big crashes in gold and silver. They have been short-lived. They should be used to increase short term investment and long-term investment in a very big way. I always relish a silver crash. I had accurately predicted the silver crash in end of January. I will be looking closely for clues of another big silver crash between now and the end of April.

HOW CAN GOLD RISE AND SILVER RISE BY CHRISTMAS OF THIS YEAR? (yeah, in case of a crash before 30th April, we need to prepare ourselves first).

Spot gold can rise to $7431.60 and $8869.80 as long as it trades over the two-hundred-day simple moving average around $4034.00.

Spot silver can rise to $170.16 and $308.60 and $486.60 as long as it trades over a two-hundred-day simple moving average of $56.00.

(The above is the technical view till 25th December 2026, as long as a two-hundred-day simple moving average holds OR taking a reverse view, gold and silver will crash or be in a medium-term bearish view if and only if they trade below the two-hundred-day simple moving average for a minimum of fifteen consecutive trading sessions.).

I am very positive on US economic growth this year. Soccer world cup, partly in the USA (June-July), will add to job creation. AI related jobs layoff will be compensated by the soccer World Cup, albeit temporarily. Technically US dollar Index should see a big rise in the second half of the year. I am one of those who believe that the US dollar Index will make a big comeback this year and defy the odds against it.

Physical buyers of silver (in India and all over Asia) are buying on any fall of more than ten percent. This trend will continue for the rest of the year.

China is reopening after a big Chinese New Year holiday. Intraday traders need to be a bit cautious this week. CME March futures of silver and copper are also expiring. Silver and copper should see more volatility than gold and platinum.

The winner is” buy on Thursday/Friday and sell on Monday”. There will be buyers on dips as long as the trend of “buy on Thursday/Friday and sell on Monday” continues.

Spot Silver – Current Market Price $87.45

TODAY VIEW: Spot silver has to trade over $86.30 to rise to $92.00, $97.00 and more.
Mild sell off will be there if spot silver trades below $86.30
Watch $87.40. Spot silver can move $4-$5 either side from $87.40 by tomorrow's close.
There can be some very sharp two-way price moves today.
Views are intraday unless otherwise specified.

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The investment ideas shared here cannot be construed as investment advice or so. If any reader is acting on these advices, they are requested to apply their prudence and consult their financial advisor before acting on any of the recommendations made here. I am not responsible to anybody in the event of profits and losses (if any) upon acting on such advice.

I hope that our reader is aware about this well aware of the risk involved in trading in commodity derivative trading.

Disclosure: I trade in India's MCX commodity exchange. I have open positions in India's MCX commodity future. I do not trade in CME future or OTC spot gold and spot silver.

NOTES TO THE ABOVE REPORT