Gold, silver plunge after historic rally: 'When it gets this stretched, be careful'

Gold (GC=F) and silver (SI=F) tumbled after touching record highs, bringing a parabolic move in the precious metals space to a screeching halt. Gold futures tumbled more than 4% to hover near $3,400. Silver futures dropped 8% after briefly touching a high of $80 per ounce. Traders were on edge going into Monday's session after the Chicago Mercantile Exchange raised margin requirements on silver futures, forcing highly leveraged traders to either add cash or sell their positions. Meanwhile, China, the w ...