Precious Metals Experience Sharp Decline Amid Margin Increase

According to BlockBeats, precious metals faced significant declines following the Chicago Mercantile Exchange's decision to raise futures margins. On December 31, New York silver futures dropped over 9%, falling below $71 per ounce, while spot silver plummeted by $5, currently priced at $71.14 per ounce. Spot gold retreated $50 from its daily high, now trading at $4,323 per ounce. Palladium saw a 7% decrease, currently at $1,507 per ounce, and platinum experienced a drop of over 12%, now priced at $1,962 per ounce.