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Silver Falls Steeply After CME Raises Margins Further
Silver futures fall 8% after exchange operator CME Group increased margin requirements for the second time in a week.
In New York, futures trade at $71.69 an ounce, having reached over $80 in recent days. Investors on the exchange must put down more cash to support their trades, pressuring some into selling which drags prices lower.
Silver notched its largest single-day gain on record Tuesday, as traders responded to a dip in the precious metal’s price Monday caused by the CME’s first change to margin requirements.
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