芝商所再次上调贵金属期货保证金！业内人士给出这些建议

Core Viewpoint - The CME Group's margin adjustments, effective after the market close on February 6, are seen as an emergency response to extreme market conditions rather than a routine risk control measure, significantly impacting the global commodity market and investor operations [2][3]. Group 1: Margin Adjustments - The initial margin for non-high-risk accounts in gold futures has increased from 8% to 9%, while for high-risk accounts, it has risen from 8.8% to 9.9% [2]. - In silver futures, the initial margin for non-high-risk accounts has been raised from 15% to 18%, and for high-risk accounts, from 16.5% to 19.8% [2]. Group 2: Market Impact - Experts believe that the high-frequency margin adjustments will lead to forced liquidations in precious metals and increased volatility, shifting the funding structure towards institutional dominance [3][4]. - The adjustments are a response to extreme price drops in precious metals, with silver experiencing a more than 35% drop on January 30, marking the largest single-day decline in 46 years [3]. Group 3: Future Market Dynamics - The tightening of liquidity due to margin increases is expected to lead to short-term price crashes in precious metals, but mid-term volatility is likely to decrease as leverage is reduced [4]. - As investors focus more on fundamentals, the influence of pure sentiment and momentum trading will diminish, leading to a rational pricing logic for precious metals [4].