Рынок драгоценных металлов меняет направление? Маржа по серебру резко выросла на 28.6%, биржи последовательно предпринимают меры по охлаждению ситуации

【Chain Article】In the first week of the new year, the precious metals market presented a tale of two extremes. Gold and silver futures prices that surged strongly last year continued to climb higher, but volatility has noticeably increased, particularly for silver. Goldman Sachs recently issued a warning—predicting that silver trading will face long-term challenges of high volatility and uncertainty.

There are two factors weighing on the market this week.

First, the Bloomberg Commodity Index initiated its annual rebalancing adjustment, with precious metals weightings being significantly reduced. Industry insiders expect this will trigger a wave of position reductions by passive funds tracking the index, with both gold and silver facing pressure from profit-taking.

A more direct blow came from the CME Group. After Friday’s close, they once again raised the maintenance margin requirements for precious metals futures including gold, silver, platinum, and palladium—this is already the third time in the past month. Silver’s margin increase was the most aggressive, jumping 28.6% directly. Exchanges typically do this to suppress high leverage and speculative trading.

In the short term, there is indeed pressure, but institutions widely believe that precious metals and industrial metals prices still have room for appreciation this year, with the key depending on subsequent policy directions and global economic data.