Silver

Key insight

$64.43 breaks below the 50-day MA near $66.00 and key $65.00 round number — opens path to $61.80 (Fib 38.2% of 2025–2026 rally). Gold/silver ratio spike confirms silver's dual vulnerability: monetary metal AND industrial input.

Drops 3.89% to $64.43, underperforming gold's 1.6% decline — gold/silver ratio widening signals industrial demand fear as USD surges and risk assets sell off simultaneously.

Main risk

USD Spike + Risk-Off Flush

EUR/USD -0.6%, USD/JPY +0.6% on same session — dollar strength compresses all USD-denominated metals; silver most exposed given industrial component.