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Gold, silver fall further as CME margin hike stokes selling
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 9.8% on January 30, in its sharpest one-day drop since 1983. Gold has lost about $900 since hitting an all-time-high of $5,594.82 on January 29, erasing most of this year's gains. U.S. gold futures for April delivery were down 0.3% to $4,730.40/oz. Spot ... (full story)
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