The New York Mercantile Exchange raises margin requirements for gold and silver futures

After experiencing the largest drop in decades last Friday (30th), the Chicago Mercantile Exchange announced that the margin for gold and silver futures on the New York Mercantile Exchange will be increased after the market closes on Monday (2nd). The margin for non-high-risk gold contracts will be raised from 6% to 8%, while the margin for high-risk contracts will be increased from 6.6% to 8.8%. As for silver futures contracts, the margin for non-high-risk contracts will rise from 11% to 15%, and the margin for high-risk contracts will increase from 12.1% to 16.5%. The margins for platinum and palladium futures contracts will also be raised.

This morning (2nd), the prices of precious metals fluctuated. The spot silver price fell 8.84% to USD 77.67 per ounce, while the March silver futures rose 1.46% to USD 79.31 per ounce. The spot gold price dropped 4.9% to USD 4,653.28 per ounce, and the February gold futures fell 0.48% to USD 4,691.3 per ounce