Silver -8%, Gold Holds Firm - Here's What it Means

Here's why: silver's run from $70 to $90 over the past ten days was driven by momentum-chasing rather than real physical demand - and today is that speculative wave unwinding. Fundamentals have been showing weaker physical buying, so the rally was thinner than the price suggested.

The takeaway: gold is holding steady, while silver is reminding investors of its higher volatility. With the gold-to-silver ratio under 60, investors sitting on silver gains have an opportunity to rebalance into gold and lock in relative value, without having to guess where silver bottoms.