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Silver Price Forecast: Why the Pullback From $120 Could Fuel the Next Rally
Silver's sharp drop from $120 to $64 marks a healthy reset, not a reversal, as rising safe-haven demand, COMEX delivery pressures, and major breakout signals across key ratios point to a bullish continuation.
Date:
08.02.2026 |
Source:
fxempire.com
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Quotes
| Instrument | Price | Change (%) |
|---|---|---|
| EURUSD | 1.181440 | -0.02031% |
| GBPUSD | 1.359600 | +0.52941% |
| USDJPY | 157.053000 | +0.02675% |
| XAUUSD | 4959.028400 | +3.73072% |
| USDCAD | 1.366330 | -0.33699% |
| NZDUSD | 0.601900 | +1.18041% |
| USDCHF | 0.775300 | -0.31501% |
| AUDUSD | 0.701300 | +1.25906% |
| EURGBP | 0.868270 | -0.18049% |
| EURJPY | 185.540000 | +0.31412% |
| GBPJPY | 213.578000 | +0.3603% |
| AUDJPY | 110.140000 | +1.14156% |
| CADJPY | 114.864000 | +0.28725% |
| CHFJPY | 202.675310 | +0.36509% |
| NZDJPY | 94.550000 | +1.20417% |
| GBPCHF | 1.054580 | +0.079642% |
| EURCHF | 0.916470 | -0.068111% |
| USDMXN | 17.232490 | -1.32903% |
| USDZAR | 16.027500 | -1.36923% |
| USDTRY | 43.402200 | -0.45321% |
| USDRUB | 76.985000 | +0% |
| USDSEK | 9.014400 | -0.37058% |
| USDCNY | 6.938300 | +0.014415% |
Upcoming Important Events
| Time | Country | Event | Forecast | Previous |
|---|---|---|---|---|
| 09.02.2026 | ||||
| 23:30 | 🇦🇺 | Westpac Consumer Confidence Change (Feb) | -2 | -1.7 |
| 10.02.2026 | ||||
| 00:30 | 🇦🇺 | NAB Business Confidence (Jan) | 3 | 3 |
| 11.02.2026 | ||||
| 01:30 | Inflation Rate YoY (Jan) | 0.5 | 0.8 | |
| 13:30 | 🇺🇸 | Core Inflation Rate MoM (Jan) | 0.2 | 0.2 |
| 13:30 | 🇺🇸 | Core Inflation Rate YoY (Jan) | 2.5 | 2.6 |
| 13:30 | 🇺🇸 | Inflation Rate MoM (Jan) | 0.1 | 0.3 |
| 13:30 | 🇺🇸 | Inflation Rate YoY (Jan) | 2.4 | 2.7 |
| 13:30 | 🇺🇸 | Non Farm Payrolls (Jan) | 40 | 50 |
| 13:30 | 🇺🇸 | Unemployment Rate (Jan) | 4.5 | 4.4 |
| 12.02.2026 | ||||
| 07:00 | 🇬🇧 | GDP Growth Rate QoQ (Q4) | 0.2 | 0.1 |