Gold and silver extended their recent slide Thursday, with both metals trading right around some major moving averages both are currently beneath their 50 and 100-day simple moving averages a technically bearish configuration that has been in place since mid-April. Gold closed on the day at $4,692, while silver fell harder, shedding 3% to $75.39 a sharp reversal from the $84 range it held just ten days ago. The selloff has stripped gold of roughly $550 from its early-year peak near $5,238 and pulled silver nearly $15 off its recent high of just above $90. The macro backdrop is supplying those headwinds. According to ... (full story)