CME Group takes strong action, causing a broad plunge in precious metals

BlockBeats News, December 31, due to another increase in precious metals futures margin requirements by CME Group, precious metals plunged across the board during the day. New York silver futures dropped more than 9% intraday, falling below $71/ounce. Spot silver plummeted $5 during the day and is now quoted at $71.14/ounce.

Spot gold has retreated $50 from its daily high and is now quoted at $4,323/ounce. Spot palladium fell sharply by 7% and is now quoted at $1,507/ounce. Spot platinum once dropped more than 12% and is now quoted at $1,962/ounce. (Golden Ten Data)