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Alasdair Macleod: Gold and silver are recovering
By Alasdair Macleod
GoldMoney, Toronto
Thursday, February 20, 2026
In very low turnover on Comex, gold and silver begin to recover as geopolitical tensions rise. Evidence is increasing of a possible attack by the United States on Iran in the coming days.
Gold and silver rallied this week in a firmer tone suggesting a gradual climb higher is in prospect. In Europe this morning, gold traded at $5,025, up $105 from last Friday's close, while silver at $80.50 was up $5.30 over the same timeframe. U.S. markets were closed on Monday for Washington’s birthday, which may have contributed to pitifully low volumes on Comex. ...
... Dispatch continues below ...
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These turnover numbers are exceptionally low, even for holiday periods and reflect a futures market dying on its feet. Open interest in both contracts is also very low, but gold's is showing some signs of recovery. ...
... For the remainder of the analysis:
https://www.goldmoney.com/research/gold-and-silver-recovering
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