Gold Jumps 3.3% to $4,060/oz as Silver Climbs 4.9%

The scale of the move matters more than the level: silver's gain outpacing gold, and the two miner indices jumping roughly eight percent, points to a broad precious-metals bid rather than a single-instrument spike. The divergence is the odd detail — the metals and mining ETF fell while the miner indices rallied, a split worth watching for signs of positioning or fund-specific flows. With copper barely moving, this reads as a defensive or monetary demand story rather than an industrial one. Whether the miner equities hold their gains alongside spot is the open question.