Precious Metals Forecast (Feb 9, 2026): Gold Holds $2,300, Silver Eyes $65 Breakout

Precious Metals Forecast (Feb 9, 2026): Gold Holds $2,300, Silver Eyes $65 Breakout

Monday, February 9, 2026 — As we start the week, the precious metals market is showing distinct divergence. While Gold is consolidating its gains as a safe-haven asset, Silver and Copper are being propelled by a surge in industrial demand from the booming AI and green energy sectors.

Gold: The Central Bank Put

Gold prices remain resilient, trading firmly above the $2,300 support level. The primary driver continues to be relentless central bank accumulation, which has created a high floor for prices despite interest rate volatility.

1. Forecast: Analysts at J.P. Morgan and Macquarie have revised their 2026 targets upwards, eyeing $2,600 by mid-year.
2. Key Level: A break above $2,450 would signal the next leg of the rally towards the psychological $3,000 mark.

Silver: The Industrial Powerhouse

Silver is outperforming expectations, driven by a supply deficit that has left major bullion markets scrambling. With industrial demand from solar PV and 5G infrastructure accelerating, the "poor man's gold" is looking increasingly like a strategic asset.

1. Price Target: Bank of America projects an average of $56 for 2026, with a potential breakout to $65.
2. Bull Case: Some analysts, citing the "AI infrastructure" boom, believe a triple-digit price ($100+) is possible if a short squeeze occurs on COMEX.

Copper & Nickel: The AI Effect

It's not just precious metals. Copper has hit an all-time high of $14,527/ton, driven by the massive cabling needs of new AI data centers.

1. Copper: Median forecast for 2026 sits at $11,975/ton, solidifying its status as a top-performing base metal.
2. Nickel: While less explosive, Nickel is stabilizing around $17,235/ton, supported by managed supply from Indonesia.

Action Item for Investors

The trend is clear: Hard assets are hedging both inflation and tech growth.

1. Review your allocation: Ensure you have exposure to industrial metals (Silver/Copper), not just monetary metals (Gold).
2. Watch the $26 Silver support: If it holds this week, it's a strong buy signal.

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