Silver

Key insight

63.62 pulls back 1.3% but structure intact above 62.00 (50-day MA). Break above 65.50 Sept swing high opens 68.00 target. Gold at 4,279 confirms precious metals bid; oil +1.4% reinforces commodity rotation into hard assets.

63.62 holds above the 60.00 round-number floor while gold/silver ratio stays compressed near multi-year lows — industrial demand and safe-haven bid both supportive in a high-rate, geopolitically tense environment.

Main risk

USD strength / real yield spike

USD/JPY at 158.8 signals dollar resilience; any repricing of terminal rates higher would pressure XAG through the 62.00 MA and expose 59.50.