Silver Price Alert: XAG/USD Rockets Past $90 as COMEX “Delivery Panic” and 189% Gains Ignite $95 Target
Silver is officially in “beast mode.” As of today, February 27, 2026, the silver spot price has exploded into the $89–$91 per ounce range...
Quick overview
- Silver's spot price has surged to the $89–$91 per ounce range, outperforming gold significantly.
- COMEX registered silver inventories are at multi-year lows, raising concerns of a potential liquidity crisis.
- The market is experiencing a structural rally driven by a six-year supply deficit, strong industrial demand, and geopolitical tensions.
- Technical analysis suggests a bullish trend for silver, with a target price of $95.22 if it breaks above the $91.27 resistance level.
Silver is officially in “beast mode.” As of today, February 27, 2026, the silver spot price has exploded into the $89–$91 per ounce range, leaving gold in its dust. With intraday gains of nearly 4%, silver is not just a precious metal—it is currently the highest-alpha asset in the global commodity complex.
While most markets are focused on US trade policy, significant risks are emerging in the silver market. COMEX registered inventories are at multi-year lows, and with a major delivery month ahead, a historic physical squeeze could be developing.
The “March Madness” Catalyst: COMEX Liquidity Squeeze?
The main reason for today’s jump to $90.85 is a potential liquidity crisis on the COMEX.
- Inventory Drawdowns: Registered silver inventories are falling quickly. February deliveries have already removed 50 million ounces, and the market is preparing for First Notice Day in March, which is a major delivery month.
- Paper vs. Physical Gap: Recent technical halts by the CME during price surges have led to speculation that the paper market is having trouble matching physical demand.
- Gold/Silver Ratio: The ratio has narrowed to 57–58, down from historical averages above 80. This shows that silver is now preferred as a hedge against inflation and supply chain disruptions.
- The Fundamental “Triple-Engine” Rally
Silver’s 189% year-over-year gains are driven by three major structural changes:
- The Sixth Year of Deficit
According to the Silver Institute, 2026 is the sixth year in a row that global demand has exceeded supply. The expected 67 million ounce deficit is being covered by quickly shrinking stockpiles. Since silver is mainly produced as a byproduct of other mining, it is difficult to increase supply in response to higher prices.
- The AI & Green Tech “Floor”
Even with some cost-saving measures in solar sectors, demand from AI data centers, advanced semiconductors, and electric vehicles remains very strong. Industrial use alone is expected to reach 650 million ounces in 2026, creating a strong base of demand that gold does not have.
- Geopolitical Safe-Haven Bid
With US-Iran nuclear talks in Geneva reaching a critical stage and the Trump administration confirming its 10-15% global tariff plans, investors are turning to silver. The metal is now seen as a safe haven for everyday investors during times of currency uncertainty and trade tensions.
Silver Technical Analysis: The Path to $95.22
On the 2-hour chart, silver is showing a clear upward channel. Although there was a short-term pullback at $91.27, the overall trend is still strongly positive.
- The Resistance Barrier: $91.27. This is the immediate target. A decisive break above this supply zone Resistance Level: $91.27 is the next target. If silver moves clearly above this level, it could rise toward $95.22 and possibly approach the key $100 mark.
- Support Levels: Buyers are actively supporting the $88.84 to $88.00 range. Below this, the 50-period moving average at $85.25 and the 200-period moving average at $84.61 are both rising and providing additional support.
- Momentum Reset: The RSI has cooled to 59 from overbought territory. This “reset” is healthy, indicating that the market has neutralized its over-extended state and has the “fuel” for another impulsive move higher.
The Analyst’s Verdict: A Structural Breakout
With ten years of experience as an analyst, I believe silver’s combination of industrial use and monetary value is its biggest advantage in 2026. The ongoing supply deficit is a major risk for short sellers. If COMEX inventories fall further during the delivery month, silver could quickly rise to retest the January all-time high of $121.64.
Trade Idea: Look for a clear breakout above $91.27, with a target of $95.22.
Stop Loss: Place below $88.84.
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