Here’s just how grim the selloff in silver was today: The $6.49, 18% decline to $30.05 an ounce (that’s the September contract) was the worst dollar loss since January 22, 1980 and the worst percentage loss since April 27, 1987. It was the second-biggest dollar loss in history and the fifth-largest percentage loss in history. Silver has tumbled 26% this week. Somebody out there is clearly dumping silver to cover losses, but there are more fundamental reasons for the pounding, too, writes Tatyana Shumsky: silver is also facing pressure from the darkening economic outlook because it is widely used in manufacturing and ... (full story)