Silver futures plummeted 8% following CME Group’s second increase in margin requirements. New York futures trade at $71.69 per ounce, down from recent highs over $80. Traders were forced to sell due to the higher cash requirements, pushing prices down. Silver had its biggest one-day gain ever on Tuesday.

Overall, the recent dip in silver prices was a result of CME Group’s adjustments to margin requirements. This caused investors to sell off their positions, leading to the 8% drop in futures trading. Despite the significant decrease, silver had experienced a record-breaking increase just the day before.

Investors are feeling the impact of the increased margin requirements by CME Group, which has caused prices to fall dramatically. The pressure to put down more cash has led to a decrease in silver futures trading, with New York prices now at $71.69 an ounce. Traders are reacting to the changes and adjusting their positions accordingly.

Read more at Dow Jones & Company: Silver Falls Steeply After CME Raises Margins Further