Silver Pulls Back to $77.53 After Volatile February Run

Silver Pulls Back to $77.53 After Volatile February Run

Silver is trading at $77.53 per ounce on Friday, down nearly 10% from its monthly peak as the white metal gives back gains following a sharp rally that pushed prices above $85.

What to know

• Silver closed at $77.53/oz on February 13, down 0.64% on the day and 5.53% for the week
• The metal has retraced 9.72% from its monthly high, after trading between $73.75-$79.26 intraday
• Gold/silver ratio sits at 64.8, with gold holding near $5,000 while silver consolidates

What happened

Silver closed Friday’s session at $77.53 per ounce, down 0.64% on the day and 5.53% for the week. The metal has retraced 9.72% from its February peak after testing above $85 earlier in the month.

Friday’s intraday range stretched from $73.75 to $79.26, a $5.51 swing representing a 7.5% move. This volatility typically accompanies major position unwinding or directional uncertainty after an extended rally.

The current live precious metals prices show silver underperforming gold considerably. Gold is down 0.48% for the week but has gained 9.53% over the past month to trade near $5,026.

Who’s involved

The gold/silver ratio currently sits at 64.8, widening as silver gives back ground. Industrial buyers who may have been caught off-guard by silver’s rally above $80 are likely reassessing demand at these elevated levels.

Speculative traders appear to be taking profits after the early February run. The month-over-month decline suggests long positions built during the rally are being unwound, particularly as gold holds firm near $5,000 - a dynamic that typically indicates a risk-off rotation within precious metals rather than a broad sector selloff.

Why it matters

Silver’s 9.72% monthly decline versus gold’s 9.53% gain creates a nearly 20 percentage point divergence. When silver underperforms gold by this margin while gold holds multi-thousand-dollar levels, it typically signals either profit-taking after overextension or softening industrial demand concerns.

The $73.75 intraday low represents a technical level worth monitoring. Sustained trading below $78 could lead to a retest of the $70 psychological threshold. The metal remains well above long-term bearish territory, still trading at levels that would have seemed extraordinary a few years ago.

At 64.8 ounces of silver per ounce of gold, the white metal isn’t at historical extremes in either direction - not at the compressed levels below 60 that often mark speculative peaks, but not screaming cheap either.

What to watch

Three levels matter: whether silver can reclaim $80 and hold it as support rather than resistance; the $73-$74 zone that marked Friday’s low, where a break could accelerate selling toward $70; and the gold/silver ratio itself, where a push above 68 would signal continued relative weakness.

Industrial demand indicators from manufacturing PMIs and solar installation data in coming weeks will show whether renewed industrial appetite can provide a price floor. This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.