Gold and Silver: Bearish Signals Emerge Amid Mixed Global Cues | Investing.com

The meeting held on February 6, 2026, in Oman between U.S. and Iranian diplomats appeared to reset discussions regarding Tehran’s nuclear program to their initial stage.

Israeli Prime Minister Benjamin Netanyahu will meet with U.S. President Donald Trump in Washington on February 11, 2026, about the American talks with Iran, his office said Saturday (Feb.7, 2026), while Iran’s foreign minister threatened U.S. military bases in the region a day after the discussions.

On the other hand, the Bank of England has held interest rates at 3.75%, remaining at their lowest levels since February 2023, following the first meeting of its Monetary Policy Committee in 2026.

It follows a cut from 4% in December, but analysts are divided about how often and how soon any further reductions will come. But the Bank also has cut its forecast for economic growth in 2026, and warns unemployment is predicted to tick up by more than expected this year.

On Monday, in the wake of a major win for Japanese Prime Minister Sanae Takaichi in a snap election over the weekend. The result seems to clear the path for Takaichi to pursue her proposed bumps and tax reductions against a political backdrop that some observers have described as stable.

I observed that there is mix bag of news flow to extend bearish pressure on gold and silver futures this week as the gold futures fell in early Asian trade on Tuesday, retreating from strong gains in the prior session as metal markets remained on edge before a string of key U.S. economic data due this week.

On Tuesday, gold and silver futures are trading in red, while the spot gold and silver ratio () is up approximately 1.59%, ensuring a surge in selling pressure on gold and silver futures.

Undoubtedly, precious metals were nursing sharp swings over the past week as a mix of profit-taking and overheated positioning saw prices slide from record highs. Uncertainty over U.S. monetary policy, ahead of a potential leadership change at the Federal Reserve, also heightened volatility.

In a daily chart, gold futures are trading in a narrow range. They opened at $5,055.54, tested a high of $5,078.89 and a low of $5,032.49, and are currently at $5,052. A bearish doji has formed, which is a candlestick indicating potential reversal from an uptrend to a downtrend. This could push the futures to test the immediate support at the 9 EMA ($4,977), where a breakdown (falling below support) could push the futures to the next support at the 20 EMA ($4,887). EMA stands for Exponential Moving Average, a technical indicator that gives more weight to recent prices to identify trend direction.

Conversely, gold futures are experiencing significant downward (bearish) pressure below the immediate resistance at $5,124.40. This resistance remains strong, despite repeated attempts by the gold futures to break through since Feb. 4, 2026. Only a sustained movement above this level could maintain positive (bullish) market sentiment.

In a daily chart, silver futures have also formed a bearish doji due to the formation of a bearish crossover above, as the 9 EMA has come below the 20 EMA, which could trigger a selling spree soon. Silver finds a breakdown below the immediate support at $79.703.

Undoubtedly, a breakdown below this immediate support could push the futures to test the next support at the 50 EMA ($75.294), and if the silver futures don’t hold this significant support in today’s session, the next target at the 100 EMA ($63.629) could be tested this week.

Inversely, only a breakout above the immediate resistances at the 20 EMA ($84.862) and 9 EMA ($83.926) could keep the bullish sentiments intact, but the next resistance at $89.114 could trigger selling in case of an attempt to test this resistance.

In a daily chart spot gold-silver ratio holds at the immediate support at 61.27, which looks ready to reverse today, where a breakout above the immediate resistance at 66.33 will confirm the continuity of the uptrend.

Disclaimer: Readers are advised to take any position in gold and silver at their own risk, as this analysis is based only on observations.