Silver

Key insight

$63.63 breaks below the $65 round-number floor — silver's 2x leverage to gold's -1.8% move signals panic liquidation, not orderly profit-taking. Next structured support sits at $61.50 (50-day MA).

-5.4% single-session collapse drags XAG/USD to $63.63, underperforming gold's -1.8% drop and confirming momentum breakdown below the key $65 round-number support.

Main risk

Gold/Silver ratio spike on USD rebound

USD/JPY +0.5% to 154.4 signals broad dollar bid; ratio expansion above 68 has historically crushed silver 8–12% further.