Precious metals prices plummeted across the board following the CME Group's latest increase in margin requirements for precious metal futures.

 affected by the CME Group raising the margin requirements for precious metal futures again, precious metals have sharply declined across the board during the day. New York silver futures fell more than 9% intraday, dropping below $71/ounce. Spot silver plunged $5 intraday, currently at $71.14/ounce. Spot gold retreated $50 from the daily high, currently at $4323/ounce. Spot palladium fell sharply by 7%, currently at $1507/ounce, and spot platinum once dropped more than 12%, currently at $1962/ounce.