Silver

Key insight

65.79 — silver outperforming gold on the pullback; ratio compression signals industrial bid absorbing the selloff. Break above 67.50 Jan 2026 swing high opens 70.00 psychological target.

65.79 holds above key 65.00 round support; gold/silver ratio compressed as XAU pulls back 1.0% while XAG holds tighter — industrial demand floor keeps bulls in control near multi-year highs.

Main risk

Gold-led precious metals selloff

XAU drops 1.0% to 4,360; sustained gold weakness below 4,300 drags silver through 65.00 support, exposing 62.50 200-day MA.