Silver Market Surge: Key Updates from February 4, 2026
Silver Retakes $90 After Sharp Decline
Silver prices roared back above $90, recovering from a significant cartel-induced slam.
Verified: Silver traded at approximately $90.54 per ounce on February 4, 2026, up $2.44 from the previous day, amid ongoing volatility and recovery from recent declines.
Massive Silver Withdrawals from COMEX Vaults
Over 3 million ounces of silver were removed from COMEX vaults on Tuesday, with significant withdrawals from Asahi, HSBC, and JPM, reducing total inventory to around 400.8 million ounces.
Verified: COMEX silver inventories have been declining rapidly, with reports of millions of ounces withdrawn in early 2026, reflecting strong physical demand and vault outflows.
Silver Shortage in Dubai Drives 15% Premiums
Physical silver stocks in Dubai are exhausted, with buyers paying up to 15% premiums amid surging demand.
Verified: Dubai experiencing silver shortages, with buyers paying premiums of up to 15% or Dh2,000 per kg over market rates due to high demand and limited supply.
Low Silver Futures Open Interest Signals Bullish Potential
Only 142,000 silver futures contracts remain outstanding, down significantly, setting up potential violent upside moves as speculators re-enter.
Verified: Silver futures open interest around 156,000 contracts as of late January 2026, considered low and bullish, with potential for increased speculation driving prices higher.
Alleged Silver Price Manipulation Patterns Observed
Banksters reportedly using the same algorithm to slam silver prices ahead of benchmarks, exploiting SLV and reducing physical settlement losses.
Verified: Discussions and analyses highlight potential manipulation in silver prices, with sharp declines attributed to margin hikes, leverage, and institutional shorting amid volatility in early February 2026.
Trump Confirms Desire for Lower Rates, Invalidating Recent Silver Smash
Trump states Warsh understands the need for lower rates and would not have been nominated if intending to raise them, suggesting the recent $50 smash in silver was based on false premises.
Verified: Trump explicitly stated in interviews that he expects lower rates under Warsh, and Warsh would not have been selected if he wanted to raise rates, amid market reactions in early February 2026.