交易所紧急出手，沪银夜盘继续大跌

Market Overview - The silver futures market experienced a significant drop, with the main contract falling 20% shortly after opening on February 2, following a previous day of trading that also saw major declines in other commodities like tin, oil, and nickel [1] - The Shanghai Futures Exchange (SHFE) issued a notice urging market participants to enhance risk management and maintain a rational approach to trading amid increased market volatility [1] Price Movements - Gold prices peaked at a historical high of $5,598.75 per ounce on January 29, but fell to around $4,600 by February 2 [2] - Silver prices also saw a drastic decline, dropping from a high of $121.647 per ounce on January 29 to approximately $80 by February 2 [2] - In the domestic futures market, the main gold contract fell from a high of 1,258.72 yuan per gram to about 1,050 yuan by February 2, while the main silver contract dropped from 32,382 yuan per kilogram to around 20,600 yuan [2] Market Analysis - Analysts attribute the extreme volatility in precious metals to external macroeconomic factors and liquidity disturbances rather than domestic fundamentals [1] - The recent market downturn is seen as a "chain reaction" triggered by the collapse of the U.S. financial market, exacerbated by the nomination of a hawkish figure for the Federal Reserve chair position [1] - The SHFE has proactively implemented measures to mitigate external shocks, including increasing margin requirements and expanding price fluctuation limits [2] Regulatory Actions - The SHFE has taken regulatory measures against certain clients for exceeding trading limits, which included restricting their ability to open new positions [4] - The exchange has also issued penalties for manipulative trading practices, including suspensions of trading for involved parties [4]