芝商所念起紧箍咒，贵金属行情结束了？

Group 1 - The Chicago Mercantile Exchange (CME) has announced a second increase in margin requirements for precious metal futures, including gold, silver, platinum, and palladium, citing market volatility and the need for adequate collateral coverage [1][3]. - Precious metals have experienced significant volatility, with silver futures reaching a historic high of over $83 per ounce before a substantial pullback [3]. - Historically, increases in margin requirements by CME have often led to declines in precious metal prices, as traders are required to provide more collateral, reducing available funds and dampening market enthusiasm [3][5]. Group 2 - The tightening of the futures market does not necessarily indicate a decline in the physical market, and there may still be potential for gold to experience a rally in the coming year, with price targets speculated between $4,900 and $5,000 [6]. - Technical analysis indicates that after testing resistance at $4,400, gold prices have begun to retreat, suggesting weak bullish momentum, and there is a risk of new lows if the downward trend continues [6]. - In the silver market, prices are currently holding around the $70 per ounce mark, with expectations of a short-term rebound, but the overall adjustment trend remains negative [7].