Gold Climbs, Silver Volatile Amid Global Stock Rout and CME Margin Hike

Gold rose while silver experienced extreme volatility on Friday as global stocks tumbled. US exchange operator CME Group increased margin requirements for precious metals for the third time this year to manage heightened market risks.

Key Prices:

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  Spot gold climbed 2.3% to $4,879.45 per ounce and is up 0.3% for the week.

  
  


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  US April gold futures edged up 0.2% to $4,897.20 per ounce.

  
  


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  Spot silver jumped 3.8% to $73.91 per ounce after earlier dropping below $65, marking a 1½-month low. Silver has lost over 13% for the week, including last week’s 18% decline, its largest weekly fall since 2011.

  
  


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  China’s only silver futures fund fell by its 10% daily limit for a sixth consecutive session.

  
  

Analysts attribute the moves to weakening risk sentiment. “Gold is holding its own, while silver is under pressure in a risk-off environment,” said Ilya Spivak, head of global macro at Tastylive.

Global equities extended losses for a third consecutive session, with Wall Street selloffs driving extreme volatility in both precious metals and cryptocurrencies.

ANZ analyst Soni Kumari noted, “The timing of gold and silver corrections coincides with Chinese New Year, which could trigger more buying from Chinese consumers. Short-term volatility may persist until weak positions are unwound.”

Meanwhile, CME Group raised margin requirements for gold and silver contracts to curb risks during this turbulent period.

Other metals showed modest gains: spot platinum added 0.4% to $1,993.95 per ounce, while palladium rose 2.2% to $1,651.74, despite both posting weekly declines.