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Breaking: The metal market - gold (XAU / USD) and silver (XAG / USD) flash crash

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Breaking: The metal market - gold (XAU / USD) and silver (XAG / USD) flash crash - ExpertFX School

Metals just saw immense outflows with Gold dipping to $4,900 and Silver coming back to $76, respectively down 2.75% and 10% on the session!

In Markets, a "fat finger" happens when gigantic liquidation or buy orders happen without any news to back-up the newfound volatility. But as I am about to publish this piece, some news just released.

Update: The broad selloff seems to be from Israel's PM Netanyahu confirming that the US President Trump would prefer seeking a deal with Iran, taking out some elevated risk-premiums in the commodities.

It was surprising to see metals hold yesterday's hawkish Non-farm payrolls so well, with the large pricing out of Fed Cuts through 2026 after the data.

Oil is also dumping back to below $63, down 3.50% on the session.

Mid-Session Metals Market picture – Looking ugly

Breaking: The metal market - gold (XAU / USD) and silver (XAG / USD) flash crash - ExpertFX School
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Metals Market daily performance (12:00) – Courtesy of Finviz

Gold stumbles by 3.60%

Breaking: The metal market - gold (XAU / USD) and silver (XAG / USD) flash crash - ExpertFX School
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XAU/USD 30M Chart – Source: TradingView, February 12, 2026

Gold saw a huge liquidation candle in the last 30 minutes, with dip-buyers attempting to bring the metal back above $5,000 which will now stand as key technical indicator for appetite.

Explore our latest Gold analysis right here:

Chart alert: Gold rally faces risk of exhaustion below $5,170

Silver dips below $76

Breaking: The metal market - gold (XAU / USD) and silver (XAG / USD) flash crash - ExpertFX School
zoom_out_map
XAG/USD 30M Chart – Source: TradingView, February 12, 2026

Silver isn't looking much better, failing to breach its $84 Pivotal resistance.

Any session close below $76 can trigger further downside movement. Unlike Gold, Silver is struggling to rebound after the flash sale.

Our latest Analysis for XAG/USD: Silver (XAG/USD) tests $80 ahead of NFP – What's next?

Keep a close eye on such flows ahead of tomorrow's CPI report which could accelerate such outflows on a data beat! Preparation for the Inflation data coming up this afternoon.

Safe Trades!

Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier

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