Gold price tumbles again after CME margin hike; GLD drops 4% as selling ripples through silver
Gold fell as much as 7.5% to $4,499.34 in early Asian trading Monday before paring losses, while silver plunged 14.2% to $72.63. Spot gold dropped 4.8% to $4,630.59 in U.S. trading, and April futures settled down 1.9%. CME hiked margin requirements for gold and silver futures after the sell-off. Analysts linked the rout to de-leveraging, margin calls, and expectations of a more hawkish Federal Reserve.