Gold and silver prices witnessed a sharp single-day drop on February 16, 2026, with spot gold falling 1.02% to $4,991/oz and silver plunging 2.65% to $75.37/oz due to profit booking after softer US inflation data. With US markets closed for Presidents Day and China on Lunar New Year holiday, experts like Enrich Money CEO Ponmudi R see this as a temporary dip shifting from panic selling to strateg