Gold, Silver Plunge After Historic Rally: 'When it Gets This Stretched, be Careful' | Metals Mine

  • Gold, Silver Plunge After Historic Rally: 'When it Gets This Stretched, be Careful'

    From finance.yahoo.com

    Gold (GC=F) and silver (SI=F) tumbled after touching record highs, bringing a parabolic move in the precious metals space to a screeching halt. Gold futures fell 4.5% to just above $4,340 per troy ounce. Silver futures dropped nearly 8% after briefly touching $80 per ounce. Traders were on edge going into Monday's session after the Chicago Mercantile Exchange raised margin requirements on silver futures, forcing highly leveraged traders to either add cash or sell their positions. Meanwhile, China, the world's third-largest silver mining country, is expected to restrict exports starting in January, heightening ... (full story)

Comment Options
  • Story Stats

  • Related Stories