Gold

Key insight

$4,323 dip tests the 20-day MA zone (~$4,280–4,320); silver's -5.4% collapse flags risk-off liquidation, not a fundamental gold breakdown — hold longs above $4,200 with tight stops.

Pulls back 1.8% to $4,323 but structural bull trend intact — USD/JPY at 154.4 signals yen weakness supporting dollar, yet gold holds well above its 200-day MA near $3,850.

Main risk

Silver crash signalling broader metals sell-off

Silver -5.4% to $63.6 — metals liquidation of this scale often drags gold to its 50-day MA near $4,150 within days.