Silver tumbles from record high; SLV slides as traders book profits and margin rules tighten
Spot silver plunged 10% to $71.94 an ounce by early afternoon in New York, after hitting a record $83.62 earlier Monday. iShares Silver Trust dropped nearly 10%. Traders cited profit-taking and higher futures margin requirements following a CME Group notice. Silver miners and related ETFs also fell sharply as volatility spiked.