Silver

Key insight

$50 round number flipped to support — first clean weekly close above since 1980 peak era. Gold/silver ratio compressing hard; next technical target is $55.00 (2011 all-time high zone). Momentum favours continuation while $49.50 holds.

Breaks $50 psychological barrier at $51.98 (+4.4%), outpacing gold's +2.8% gain — gold/silver ratio compression confirms industrial and monetary demand converging at multi-decade highs.

Main risk

Oil -3.9%: demand shock spills to industrials

Oil's 3.9% single-session drop signals growth fear; silver's industrial demand (60% of use) vulnerable if macro deteriorates sharply below $49.50.