Silver

Key insight

63.68 trades at multi-decade highs; break and hold above 65.00 round number opens path to 70.00 target. Gold at 4,287 keeps the ratio bid for silver. Industrial demand with oil at 98.5 reinforces upside.

63.68 holds above the 2011 all-time high re-test zone near 62.00 — gold/silver ratio compressing as silver outperforms, up +0.7% vs gold's -0.3% today.

Main risk

USD/JPY strength & real yield spike

USD/JPY +0.4% to 155.0 signals dollar firmness; sustained dollar strength compresses silver's USD price, threatening 62.00 support.