Silver

Key insight

64.10 consolidates below the 65.00 round-number resistance — a clean break targets 67.50 (2026 swing high). Failure to hold 62.50 (50-day MA) reopens 59.80 quickly. Oil at 99.4 (+2.3%) lifts inflation expectations, supporting real-asset bids.

64.10 holds above the 50-day MA near 62.50 despite a -0.59% pullback; gold at 4,336 keeps the gold/silver ratio elevated, pointing to silver catch-up potential on any industrial demand uptick.

Main risk

USD strength / risk-off equity tone

Nasdaq -1.3% and EUR/USD slipping to 1.1575 tighten financial conditions; a sustained dollar rally pressures silver through the 62.50 MA.