Gold and silver are surging higher today as momentum builds across the precious metals complex. As of late morning in New York (11:57 AM ET), gold futures are trading at $5,086.90/oz, up 1.79%, while silver futures are at $82.46/oz, up 6.21% on the session (COMEX pricing, Feb 20, 2026).
5 key drivers behind today’s move
1) Follow-through momentum buying
After stabilizing earlier this week, buyers stepped in aggressively. The rally gained traction as technical levels gave way, encouraging additional upside participation.
2) Treasury yields easing
Yields have pulled back modestly, reducing pressure on non-yielding assets. Lower real-rate headwinds helped reignite interest in gold and silver.
3) Softer U.S. dollar
A cooling dollar has provided tailwinds for commodities priced in USD. The shift eased currency pressure and supported fresh buying in metals.
4) Technical breakouts
Gold pushed firmly above the $5,050 zone and is pressing into new highs, while silver broke decisively above $80 resistance. These moves triggered momentum-driven inflows.
5) Silver outperforming
Silver is once again amplifying gold’s move. With thinner liquidity and more speculative positioning, silver’s percentage gain is outpacing gold significantly.
What to watch next
- Whether gold can sustain trade above $5,100
- If silver can hold above the $80–$82 breakout zone
- 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 20, 2026, gold and silver are extending their rally as easing yields, a softer dollar, and technical breakouts fuel renewed momentum. Today’s surge reflects strong follow-through buying and growing confidence in the short-term upside trend — with silver leading the charge.
