Silver Price Today Jumps After a Violent Selloff, With Spot Silver Back Near $88 an Ounce
Silver price today is sharply higher in early trading Tuesday, February 3, 2026 ET, as the metal rebounds from a steep, multi-session selloff that shook precious-metals markets. Spot silver was last shown around $87.80 per troy ounce (about $2.82 per gram) in mid-morning updates, after a surge of roughly 10% on the day.
The move has reignited interest from retail buyers and traders alike, but it has also raised a bigger question: is this a genuine reset higher, or a reflexive bounce after forced selling?
What happened to silver price today
Silver’s jump Tuesday follows an exceptionally volatile stretch that saw the metal swing violently in both directions, with sharp losses in recent sessions and a rapid snapback today. Market commentary around the move points to an “oversold” rebound dynamic, with traders buying back positions after the downturn went too far, too fast.
In plain terms: silver didn’t just drift lower and recover. It appears to have been pushed lower by a mix of deleveraging, risk limits, and margin pressure—then pulled higher by dip-buying and position rebalancing once the selling exhausts.
Silver price today in Egypt: quick EGP translation
Using the mid-range spot level above and a recent official USD/EGP exchange-rate posting (near 47 EGP per $1), today’s spot pricing roughly translates to:
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≈ 4,134 EGP per troy ounce (spot-equivalent)
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≈ 133 EGP per gram (spot-equivalent)
These are metal-value estimates before any local premiums, fabrication costs, taxes, or dealer spreads.
Behind the headline: why silver is whipping around
Silver tends to amplify whatever is happening in macro markets because it sits at the intersection of:
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Investment flows (risk-on/risk-off positioning)
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Leverage (futures and derivatives are widely used)
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Industrial demand narratives (which can be invoked quickly even when the day’s move is mostly trading-driven)
Recent reporting has also highlighted how large speculative traders reduced exposure as volatility rose, which can accelerate declines when markets turn and stop-losses cascade.
What makes silver different from gold in these moments is the speed. Silver often trades like a high-beta version of precious metals—meaning when sentiment breaks, it can gap down harder, and when it stabilizes, it can rebound faster.
What we still don’t know
Even with a big up-day, several pieces remain unclear and will likely determine whether the move holds:
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How much of today’s jump is short covering vs. fresh long buying
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Whether margin and risk limits will keep pressuring leveraged positions
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Whether industrial-demand stories (solar, electronics, autos) translate into immediate physical buying, or stay in the “long-term narrative” bucket
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How real-world bullion premiums respond (they can rise even when spot falls, and vice versa)
Without clarity on these, a headline price can be less informative than market structure: who is forced to trade, who can wait, and who is stepping in with conviction.
What happens next: 5 realistic scenarios and triggers
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Bounce continues for another session or two
Trigger: volatility cools, and traders rebuild positions as selling pressure fades. -
Choppy sideways trading
Trigger: buyers and sellers reach a temporary balance while markets digest recent swings. -
Retest of recent lows
Trigger: another wave of deleveraging or risk-off moves hits commodities broadly. -
Premiums widen even if spot stabilizes (for coins/bars)
Trigger: retail demand increases while supply chains and dealer inventory stay tight. -
A renewed breakout attempt later this month
Trigger: macro drivers (rates, currency moves, risk appetite) align and positioning rebuilds.
Stock market information for iShares Silver Trust (SLV)
- iShares Silver Trust is a fund in the USA market.
- The price is 72.44 USD currently with a change of -2.99 USD (-0.04%) from the previous close.
- The latest open price was 73.86 USD and the intraday volume is 18837618.
- The intraday high is 80.68 USD and the intraday low is 77.41 USD.
- The latest trade time is Tuesday, February 3, 16:16:12 +0200.
Why it matters
Silver’s price action is more than a one-day story. For everyday buyers, it affects what you pay for jewelry, bars, and coins once premiums are included. For markets, it’s a stress test: when silver whips around, it often signals leverage and sentiment shifts that can spill into other assets.
If you tell me your country/currency and whether you mean spot, coins/bars, or jewelry, I can translate today’s move into a more “what you’ll actually pay” range.
