Gold drops over 5% to $4,609.20 per ounce

Gold and silver prices ​dropped on Monday as increased CME margin requirements added to the selling pressure following last week's selloff sparked ⁠by Kevin Warsh's nomination as the incoming Federal Reserve chair. Spot gold was 3.2% lower at $4,708.19 per ⁠ounce by 1008 GMT, recovering from nearly a 10% fall earlier in the session. Bullion shed more than ...

Silver fell by 6.32% at 10:15 pm ET, going for $78.69 per ounce. Gold dropped 3.31% to $4,717.92 per ounce at 10:21 pm ET. Platinum lost 0.95%, a minute later, selling for $2,202.64 per ounce and palladium lowered 0.87% to $1,736.45 per ounce.

Gold fell, following its biggest plunge in more than a decade, and silver whipsawed in choppy trading after a dramatic pullback from record highs. Spot gold fell as much as 6.3% on Monday. Silver swung sharply, dropping to around $75 an ounce having earlier climbed as much as 3.2%. The white metal recorded its biggest ever intraday loss in the previous ...