Silver Collapses 10.5%: Forensic Autopsy of the $75 Flush with Robert Gottlieb

Gold and silver were hit by a sharp liquidation, with silver plunging more than 10% intraday and gold falling nearly $150 before stabilizing. Jeremy Szafron speaks with former JP Morgan bullion desk executive Robert Gottlieb to break down what drove the move.Gottlieb argues the selloff was structural, not conspiratorial. With gold rising from $2,600 to around $5,000 and silver surging from $28 to above $70, volatility mechanically reduced allowable position size across banks and funds. “The allowable positions based on navar become significantly small,” he explains, as value-at-risk limits tightened and banks stepped back from warehousing risk. In a crowded, leveraged trade, “selling begets selling in a market like this.” His warning to traders: “You never catch a falling knife.”He also pushes back on manipulation claims, stating, “The banks are not short,” and emphasizes that central bank demand remains policy driven: “A central bank never makes a decision based on price. They make a decision based on policy.”Recorded February 12, 2026Follow Jeremy Szafron on X: @JeremySzafron (https://x.com/JeremySzafron)Follow Kitco News on X: @KitcoNewsNOW (https://x.com/KitcoNewsNOW)📘 Mastering Gold and Silver Markets (Released February 18, 2026): https://a.co/d/0auCvu7R00:53 - Geopolitical Headlines, Dollar System Talk & Market Reaction01:23 - Robert Gottlieb on the Silver 10.5% Collapse02:22 - Algorithmic Trading, CTAs & Volatility Spikes03:20 - Chinese New Year Liquidity & Pre-Holiday Selling04:18 - VAR Limits: How Risk Models Shrink Positions08:42 - COT Report: Managed Money & Swap Dealer Positioning13:05 - CME Silver Withdrawals & Physical Market Flows22:31 - Margin Increases & Volatility Amplification24:19 - “Bull Markets Don’t Die From Corrections”25:41 - Hedging, Leasing & How CME Futures Work27:01 - Inside Mastering Gold and Silver Markets31:07 - “Central Banks Buy on Policy, Not Price”34:26 - Dollar Strength, Interest Rates & Gold36:06 - Excess Leverage, Blind Consensus & Investor Mistakes41:03 - “The Banks Are Not Short” Addressing Manipulation Claims#Silver #Gold #MarketVolatility #ForcedLiquidation #PreciousMetals__________________________________________________________________Like, share, and subscribe to Kitco News—and turn on alerts to stay current with expert interviews, market insights, and breaking news coverage. FOLLOW US:  X: https://x.com/kitconewsnow  Instagram: https://www.instagram.com/kitconews  Facebook: https://www.facebook.com/KitcoNews  LinkedIn: https://www.linkedin.com/company/kitconewsVisit: https://Kitco.com/ for live gold, silver, and crypto prices, the latest mining news, and macroeconomic insights.  Live gold price and chart: https://www.kitco.com/charts/goldLive silver price and chart: https://www.kitco.com/charts/silverLive crypto market data: https://www.kitco.com/price/cryptoLearn more about Kitco News: https://www.kitco.com/news/about/ For more information on advertising, sponsorship and marketing promotions – please visit our online media kit at: https://www.kitco.com/advertising  Disclaimer:  The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.