Silver

Key insight

$62.85 breaks below the $63.50 pivot; next firm support is the 50-day MA near $61.20 — a close below it opens a move toward the $58.50 Fibonacci 38.2% retracement of the 2025–26 rally.

Falls 2.5% to $62.85 as USD surges (EUR/USD -0.6%, USD/JPY +0.9%), dragging XAG below the $63.50 near-term pivot; gold also -1.9%, confirming broad precious-metals selling.

Main risk

USD / Real-Yield Spike

USD/JPY +0.9% to 154.8 and EUR/USD -0.6% signal broad dollar strength; sustained DXY gains historically compress XAG by 3–5% in short order.