Silver’s recent price action has been anything but orderly, underscoring how fragile conviction in the metal has become.
After suffering steep losses earlier in the week, the XAG staged a sharp rebound on Friday, February 6, climbing more than 8% in a single session. At press time, silver was trading near $76 per ounce, still well below recent highs, but no longer in free fall.
The violent swings highlight a broader problem facing silver investors: while long-term fundamentals remain broadly supportive, short-term price discovery is being dominated by volatility, speculative positioning, and shifting macro expectations rather than a clear directional trend.
Why silver’s volatility is dominating the outlook
Silver’s recent turbulence reflects its dual role as both a precious metal and an industrial commodity. On one hand, expectations of easing monetary policy and a softer U.S. dollar typically provide tailwinds for precious metals. On the other, uncertainty surrounding global growth and industrial demand continues to cap upside momentum, leaving silver especially vulnerable to sharp, liquidity-driven moves.
This tug-of-war has resulted in abrupt sell-offs followed by equally aggressive rebounds, a pattern that makes traditional linear forecasting unreliable and explains why price projections are increasingly framed as probabilistic ranges rather than precise targets.
Against this backdrop of heightened instability, Finbold consulted OpenAI’s flagship artificial intelligence model, ChatGPT, to assess where silver could plausibly trade by the end of February.
Rather than offering a single deterministic price, the AI model emphasized that current conditions favor wide trading bands, with outcomes highly sensitive to macro signals such as interest-rate expectations, U.S. dollar strength, and industrial demand data.
ChatGPT’s silver price forecast for February 28, 2026
According to ChatGPT, the most likely base-case scenario sees silver trading in a range between $75 and $90 per ounce by February 28.
In this framework, prices would remain volatile but broadly supported, reflecting ongoing macro uncertainty without a decisive breakdown or breakout.
A more bullish outcomem with silver pushing into the $90 to $100 range or higher would likely require a combination of sustained U.S. dollar weakness, clearer signals of monetary easing, and resilient industrial demand that reassures investors about longer-term consumption.
Conversely, a bearish outcome could sink the price below $75 if waning momentum or renewed risk-off flows weigh down on it.
Asked to narrow the range down or pick a more specific figure, ChatGPT said its final call would be around $86.
Silver prices can go up, but volatility will remain
However, the large language model insisted on reiterating the idea that the ride toward any upside would not be smooth but choppy, marked by volatility spikes.
This implies the currently observable chart patterns are not going anywhere, as, for example, silver plunged nearly 10% earlier in the session and was down over 19% in the previous trading day.
While this could be due to silver’s vulnerability and exposure to speculative positioning and industrial demand, analysts understandably remain cautious on the near-term outlook.
The long-term outlook, on the other hand, appears largely positive, with commodities experts predicting that precious metals are most likely to flourish in 2026.
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