Silver experienced a wide overnight range (86.12-93.70) with volatility continuing. Prices fell as investors took profits after the US decided not to impose import tariffs on critical minerals.

Believes as silver gets closer to $100 there will be gravitational pull, but warns to watch headlines on import tariffs/taxes on critical minerals.

Gold support at 4340, silver support at 78.85. Notes $5 average true range in silver means large moves and potential for 2-3 day directional strings.

Gold ETF holdings rose 0.4% YTD to highest since Sept 2022. Gold up 7.1% YTD, silver down 1% YTD. Gold/silver ratio at 50:1.

US equities rising overnight after week of geopolitical tensions, with AI story boosting stocks. ASML/semiconductor stocks surged after TSMC's bullish capex target.

Oil down first time in 6 days as Trump holds off on Iran attack. Pause in Bitcoin and some foreign currencies.

Earnings today: Goldman Sachs, Morgan Stanley, First Horizon. Economic data: Empire Manufacturing, Philly Fed outlook. Multiple Fed speakers scheduled.

CME FedWatch shows 5% chance of Jan cut, 26% for March. Dollar index at 98.96, euro at 1.166. Many banks giving up long euro/bearish dollar predictions.

10-year Treasury yields backing off to 4.14% (range 4.11-4.22). Key resistance on 10-year futures at 112.24.

VIX at 16.83, short positioning most extreme in 15 years. Bitcoin around 97K, nice boost recently. XRP back at support.

European stocks extended record advance after tech rally on TSMC. Asia-Pacific index traded narrow, rose 0.2%.

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European stocks extended record-breaking advance after tech stocks rallied on TSMC results. MSCI Asia-Pacific traded narrow range.