Oil Rally Pressures GBP/USD; Silver Outpaces Gold on Safe-Haven Flows

Geopolitical tensions have sparked a 3.1% surge in Brent crude to $86.20/barrel, pressuring import-dependent currencies like sterling. GBP/USD fell 0.4% to 1.2620 as higher oil prices threaten to reignite UK inflation concerns. The Nasdaq 100 dropped 1.5% as risk sentiment deteriorated, supporting safe-haven flows into precious metals. Silver has outperformed, rallying 3.8% to $29.50/oz versus gold's 1.2% gain to $2,340/oz, reflecting industrial demand alongside haven buying. The gold/silver ratio compressed to 79.3 from 81.2, signaling potential economic optimism despite geopolitical risks. Technical analysis shows GBP/USD breaking below its 20-day MA at 1.2640, targeting 1.2580 support. Silver faces resistance at $30.00 psychological level, while maintaining bullish momentum above $29.00. Traders should monitor oil prices as sustained elevation could prompt central banks to maintain restrictive policies longer.