NEW YORK, Feb 17, 2026, 16:01 EST — After-hours
Silver futures fell nearly 6% to $73.31 an ounce on Tuesday, pulling further away from a 52-week high around $121.79. (Investing)
Spot silver slipped 4.1% to $73.47 an ounce by 1:30 p.m. ET, after dipping to $71.92 earlier, as signs of progress in U.S.-Iran talks cooled demand for safe-haven metals — a refuge when investors worry. The U.S. dollar index rose 0.3% and spot gold fell 2.2% to $4,884.46; platinum was down 1.3% and palladium lost 3.1%. “Bull markets need to be fed fresh fundamental fodder often,” said Jim Wyckoff, a senior analyst at Kitco Metals, adding: “If the U.S. can avoid attacking Iran, market anxiety would ease.” (Reuters)
Tehran and Washington reached an understanding on main “guiding principles” in indirect nuclear talks in Geneva, but a final deal was not imminent, Iranian Foreign Minister Abbas Araqchi said. For silver, the shift matters because the metal has been trading like a headline market since January’s surge. (Reuters)
In U.S. equity trading, the iShares Silver Trust ETF (SLV), which holds silver bullion, ended down 4.68% at $66.46. It traded as low as $65.26. (Investing)
Silver usually tracks gold when investors want protection. It also feeds into industry — electronics, solar, the dull stuff — so a stronger dollar and tighter money can bite twice.
A firm dollar can weigh on metals priced in greenbacks by making them costlier for buyers using other currencies. Higher yields do their own damage, offering a return silver does not.
The Federal Reserve is set to publish minutes from its Jan. 27-28 policy meeting on Wednesday, Feb. 18. Traders read the minutes for how officials argued over inflation and the timing of any rate cuts. (Federal Reserve)
Friday brings the U.S. personal consumption expenditures (PCE) price index for December, due Feb. 20, the Bureau of Economic Analysis shows. PCE is the Fed’s preferred inflation gauge, and a surprise can move yields, the dollar and metals in one hit. (Bureau of Economic Analysis)
With parts of Asia sidelined for Lunar New Year, liquidity has been uneven. That can turn routine selling into a sharper slide.
There’s a flip side. If diplomacy unravels or inflation runs cooler than feared, safe-haven bids can come back quickly. If the dollar keeps grinding higher and positioning gets cut, silver can stay pinned near recent lows.
The gold-to-silver ratio — the number of ounces of silver needed to match one ounce of gold — rose to 65.82 from 65.20 on Monday, according to FXStreet data. A higher ratio signals silver is lagging gold. (FXStreet)
Next up is Wednesday’s Fed minutes and Friday’s PCE inflation print, with traders watching Geneva headlines for any change in tone.
