Gold and silver are surging higher today as bullish momentum accelerates across the precious metals complex. As of late morning in New York (11:50 AM ET), gold futures are trading at $5,234.20/oz, up $153.30 (+3.02%), while silver futures are at $86.95/oz, up $4.61 (+5.59%) on the session (COMEX pricing, Feb 23, 2026).
5 key drivers behind today’s move
1) Momentum continuation buying
Following last week’s strength, buyers stepped in early, extending the rally. Breakout levels attracted fresh participation and reinforced the upside move.
2) Treasury yields pulling back
Yields eased intraday, reducing real-rate pressure on non-yielding assets. The softer rate backdrop provided additional support for gold and silver.
3) Weaker U.S. dollar
The dollar softened again, offering tailwinds to commodities priced in USD. A weaker currency environment boosted international demand for precious metals.
4) Technical breakouts above resistance
Gold held firmly above the $5,200 zone, while silver powered through $85 resistance. These decisive moves triggered additional momentum-driven inflows.
5) Silver outperforming gold
Silver is once again amplifying gold’s gains. With thinner liquidity and stronger speculative interest, silver’s percentage advance is significantly outpacing gold.
What to watch next
- Whether gold can sustain trade above the $5,200–$5,250 zone
- If silver can maintain momentum toward the $87–$88 range
- U.S. dollar direction into the close
- Treasury yield and real-rate movement
- Signs of continuation vs. near-term profit-taking
Bottom line
On Feb 23, 2026, gold and silver are extending their powerful rally as easing yields, a softer dollar, and confirmed technical breakouts fuel continued upside momentum. Today’s surge reflects sustained bullish sentiment — with silver once again leading the charge.
