Silver leads the tape lower into the open, down 5.7% to $55.61 β€” the steepest covered move on the board and the sharpest crack in a precious-metals complex that is lower across the board. The dollar is the mirror image, firmer against nearly every major.

Metals

Silver’s 5.7% slide to $55.61 is the standout, leaving it down 6.63% on the week and 12.62% on the month; even so, it clings to a 4.85% gain over the past year. Platinum dropped 3.44% to $1,602.78 and palladium 2.21% to $1,102.25 β€” the pair now off 10.1% and 15.45% respectively on the month. Gold was the sturdiest of the four, easing 1.23% to $4,103.98, though it too is lower by 4.19% on the month and 2.5% on the year.

Currencies

The dollar sits atop the movers board. USD/SEK rose 0.57% to 10.0195 and USD/MXN 0.56% to 18.474, the peso now 7.76% weaker on the month though essentially flat over the year. USD/DKK and USD/PLN each firmed 0.40%, leaving the zloty down 4.1% on the month.

The majors went the other way. EUR/USD fell 0.44% to 1.1151, extending a 3.33% monthly decline, and GBP/USD slid 0.58% to 1.3179, off 2.15% on the month. USD/JPY was virtually unchanged at 158.30, up 1.95% on the month. The commodity currencies softened in step β€” AUD/USD down 0.2% at 0.6969 and NZD/USD off 0.45% at 0.5588 β€” while USD/CHF edged up 0.22% to 0.8345.

Crypto

The screen opens uniformly red. Bitcoin is down 1.57% at $81,782, still 8.21% higher on the month but 26.2% below where it stood a year ago. Ethereum fell 3.01% to $2,420, barely positive over the month at +1.03%. The deepest cuts are in the smaller tokens: UNI dropped 4.58% to $7.19, GRT 3.85% β€” yet it remains 46.2% higher on the month β€” and XTZ 3.64%, still up 8.75% on the week and 27.91% on the month. Polkadot eased 1.82% to $1.136 yet holds a 20.59% monthly gain. Cardano (-3.14%), Stellar (-3.28%), Dogecoin (-3.09%) and Litecoin (-2.72%) fill out the losses, while Solana held comparatively firm at $104.65, down 1.88%.

Equities echo the mood: the Nasdaq 100 is off 2.05% and the Nikkei 225 2.26%, with the S&P 500 down 1.11%, even as the FTSE 100 bucked the move with a 0.55% rise and crude held steady β€” USOil at $94.02, up 3.91% on the week. The tech and precious-metals names remain the session’s clear weak spots as the day gets underway.