- Kitco NEWS
The silver price dropped 10% on Tuesday as the CME raised margin requirements for silver contracts. Peter Hug, global trading director of Kitco Metals, said that the silver squeeze attempt has now “backfired” as bullion inventories have run dry as a result, and with premiums up and few physical products to sell, it is now even more difficult for retail investors to push the price up.
0:00 – Silver squeeze
8:30 – Silver premiums shot up
10:15 – CME margin requirements up for silver