On Wednesday, spot silver fell below $73, dropping over 4% during the day. In terms of news, the CME raised the margin requirements for precious metal futures for the second time in a week.
In an announcement dated December 30, the CME Group stated that after the market close on Wednesday, the margin for gold, silver, platinum, and palladium contracts will be increased. This decision was made based on an assessment of &#34;market volatility to ensure sufficient collateral coverage.&#34;
This week, precious metal prices have experienced significant fluctuations, creating historic market conditions for the year. Silver prices have been particularly volatile, with futures soaring to a historic high of over $82 per ounce during Monday's early trading, followed by a sharp decline.
Margin increases mean that traders will need to provide more collateral when trading precious metal futures. The previously raised margin requirements took effect on Monday.
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- On Wednesday, spot silver dropped below $73, declining over 4% amidst news that the CME Group raised margin requirements for precious metals futures for the second time in a week.  
- This decision, announced on December 30, aims to ensure sufficient collateral coverage due to assessed market volatility.  
- The recent fluctuations in precious metals prices, particularly silver, have been significant, with prices reaching historic highs before dropping sharply.

Spot silver has fallen sharply again, and the CME has raised the margin for precious metal futures for the second time in a week