事关黄金白银，上金所连发通知

Core Viewpoint - The Shanghai Gold Exchange has announced adjustments to the margin levels and price fluctuation limits for gold and silver contracts, effective from February 4, 2026, and February 3, 2026, respectively [1][3][5]. Summary by Category Gold Contracts - The margin ratio for Au (T+D) and related contracts will increase from 16% to 17% starting from the close on February 4, 2026 [1][5]. - The price fluctuation limit for these contracts will be adjusted from 15% to 16% on the next trading day [1][5]. - The margin requirement for CAu99.99 contracts will change from 120,000 yuan to 150,000 yuan per contract [1][5]. Silver Contracts - The margin level for Ag (T+D) contracts will decrease from 26% to 23% effective from the close on February 3, 2026 [3][7]. - The price fluctuation limit for Ag (T+D) contracts will be reduced from 25% to 22% starting the next trading day [3][7]. Exchange Overview - The Shanghai Gold Exchange, established in October 2002 and approved by the State Council, specializes in trading precious metals and had 291 members as of the end of 2023 [5].