Gold, silver prices fall after CME raises precious metals margins — again

Core Insights - Gold and silver prices have declined as investors take profits after a significant annual rally, with CME Group increasing margins on precious metal futures for the second time in a week [1][2] Price Movements - Spot gold prices decreased by 0.8% to $4,313.59 per ounce, marking a one-week low [2] - Spot silver prices fell 6.2% to $71.77 per ounce, retreating from earlier gains above $80 [2] Annual Performance - Gold has risen over 64% year-to-date, on track for its best annual performance since 1979 and marking the third consecutive positive year [3] - Silver has significantly outperformed gold in 2025, with annual gains nearing 150%, also the best yearly performance since 1979 [4] Market Drivers - The rally in gold prices has been driven by U.S. interest rate cuts, tariff tensions, and strong demand from ETFs and central banks [3] - Silver's price surge is attributed to low supply, high demand from India, and industrial needs alongside tariffs [4]