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Gold falls to $5,300, silver slips from record as precious metals rally enters 'dangerous phase'
Gold fell to around $5,300 after briefly topping $5,600 per ounce on Thursday while silver also pared gains as precious metals took a breather from a blistering rally. The declines came alongside a sell-off in the stock market, with the Nasdaq Composite dropping as much as 2% amid a plunge in Microsoft shares (MSFT). The tech giant's quarterly earnings report spooked investors, given higher-than-anticipated capital spending and a slowdown in quarterly cloud sales growth. A rapid rally in precious metals that had stunned Wall Street faced resistance on Thursday as the US dollar rebounded from its lowest level since ... (full story)
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