Gold and silver are trading lower to start the week as macro headwinds reassert pressure on precious metals. By late morning in New York (around 11:35 AM ET), gold futures slipped to $5,008/oz, down about 0.76%, while silver futures fell to $76.44/oz, losing roughly 1.95% on the session. (COMEX pricing, Feb 16, 2026)
5 key drivers behind today’s move
1) Rate-sensitive pressure returning
Precious metals are reacting to renewed upward pressure in Treasury yields. When yields rise, the opportunity cost of holding non-yielding assets like gold and silver increases, often weighing on prices.
2) U.S. dollar firmness
A stronger dollar is adding friction. Because gold and silver are priced in dollars, a firm USD makes metals more expensive for international buyers, dampening demand at the margin.
3) Technical levels breaking down
Gold slipping back toward the $5,000 area and silver breaking below $77 are triggering short-term technical selling. Algorithmic and momentum-driven flows often accelerate once key support zones are breached.
4) Positioning unwind in silver
Silver’s larger percentage drop reflects its higher volatility profile. After recent sharp rallies, some traders appear to be trimming exposure, leading to outsized moves relative to gold.
5) Consolidation after recent volatility
Both metals have seen significant two-way price action in recent sessions. Today’s pullback looks more like consolidation and repositioning rather than a structural shift in the broader trend.
What to watch next (quick checklist)
- Whether gold can stabilize near the $5,000 level
- If silver finds support in the mid-$70s zone
- U.S. dollar direction into the afternoon
- Treasury yield movement and real-rate expectations
- Signs of dip-buying vs. continued downside follow-through
Bottom line
On Feb 16, 2026, gold and silver are under modest pressure as yields and the dollar firm, technical levels give way, and traders rebalance positions. Today’s move reflects short-term macro and positioning dynamics — not necessarily a major trend reversal, but a reminder of how sensitive metals remain to rates and currency shifts.
