事关黄金、白银，比例调整

Core Viewpoint - The Shanghai Futures Exchange has announced adjustments to the margin ratios and price fluctuation limits for gold and silver futures contracts, effective from October 21, 2025, in response to market conditions [1][3]. Group 1: Margin and Price Fluctuation Adjustments - The price fluctuation limit for gold and silver futures contracts will be adjusted to 14%, with the margin ratio for hedged positions set at 15% and for general positions at 16% [3][4]. - Current standards for gold are a price fluctuation limit of 12% and a margin ratio of 13% for hedged positions, while for silver, the limits are 12% and 14% respectively [4]. Group 2: Market Performance and Risk Management - On October 17, the domestic precious metals futures market experienced a strong upward trend, with the main gold futures contract reaching a historical high of 999.80 yuan per gram [5]. - The main silver futures contract peaked at 12,366 yuan per kilogram, closing at 12,249 yuan per kilogram with a 2.06% increase [7]. - The rapid increase in gold prices has raised risk alerts, prompting the Shanghai Futures Exchange and the Shanghai Gold Exchange to issue notifications urging market participants to enhance risk management and investor awareness [7].