On February 4, 2026 (GMT‑5), XAG/USD posted a sharp V‑shaped recovery and extended its bullish trend, supported by increasing safe‑haven demand, revived expectations for Federal Reserve rate cuts in 2026, and ongoing global geopolitical tensions. Trading with significant volatility, the pair opened near $84.50, surged to challenge resistance above $90.00, recorded an intraday range of approximately $83.20 to $90.70, and closed near the session high with an increase of about 6.5%. The rally was underpinned by strong industrial demand from solar, EV, and AI industries, tight global silver inventories, and a weaker U.S. dollar index (DXY) affected by fiscal worries and policy divergence, with technical buying and short covering further boosting upside momentum. Looking ahead, the near‑term market outlook is bearish, with a target price of 87.03 for the next session.
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