Silver price whipsaws as CME hikes margins again; traders eye U.S. jobs and CPI next week
Spot silver surged 8.6% to $77.33 an ounce Friday after dropping below $65, but ended the week down over 8.7%. CME Group raised margin requirements for COMEX silver futures to 18% from 15%, effective after the close. In China, a silver futures fund hit its 10% daily limit down for a fifth straight session. BlackRock’s iShares Silver Trust NAV fell 13% on Feb. 5.