CME Goes All In: Precious Metals See Sharp Decline

BlockBeats News, December 31st, due to the Chicago Mercantile Exchange once again raising precious metals futures margins, precious metals experienced a sharp intraday sell-off. New York Silver Futures plummeted over 9%, breaking below $71 per ounce, while Spot Silver dropped $5 intraday, currently trading at $71.14 per ounce.

Spot Gold retraced $50 from its daily high, now trading at $4323 per ounce. Spot Palladium plunged 7%, currently at $1507 per ounce, and Spot Platinum dropped over 12% at one point, now at $1962 per ounce. (FX168)