Quote on why gold and silver prices are down today by Kaveri More, Commodity Analyst at Choice Broking
Below the Quote on why gold and silver prices are down today by Kaveri More, Commodity Analyst at Choice Broking
"Gold and silver prices seen fall today, with gold dropping -2.7% and silver plunging -5.5%, as low liquidity from Asian market holidays combined with softer U.S. inflation data to fuel expectations of future Federal Reserve rate cuts.
Precious metals speculators trimmed bullish bets last week, per the latest CFTC Commitment of Traders report. Non-commercial traders reduced their net long silver futures positions by 2,922 contracts to 22,955 as of February 9, 2026 a two-year low. COMEX speculators similarly cut their net long gold positions significantly, signalling waning optimism.
Technically, gold has hovered around its 20-DEMA after failing to hold key support last week. Both precious metals struggled near critical levels amid declining open interest (OI) from long unwinding. Watch 149,000 as pivotal support in gold and 225,000 in silver if breaks below could accelerate more downside pressure."
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