In early February 2026, the precious metals market experienced significant volatility, with silver and gold prices undergoing dramatic fluctuations. According to Business Recorder, silver prices collapsed more than 15% on February 5, 2026, reaching as low as $73.57 an ounce, while gold fell over 3%, sinking to $4,971.55. This downturn was attributed to increased market volatility and a stronger US dollar, which raised concerns about demand. The Hindu reported that futures for both metals tumbled 10% due to 'strong U.S. dollar, Fed jitters' causing a selloff. However, the market saw a rapid recovery shortly after, as TechJuice highlighted a 28% rebound in silver prices within 48 hours, bringing the price back to around $91 per ounce. This rebound followed a sharp 22% drop at the end of January, which had tested bear market volatility. ProPakistani echoed this sentiment, noting the recovery and suggesting a potential rise above $100 per ounce as investor interest surged.