Core Viewpoint - The Shanghai Gold Exchange has announced adjustments to the margin levels and price fluctuation limits for silver deferred contracts due to significant price volatility, aiming to mitigate market risks [1] Group 1: Margin Adjustments - The margin level for the Ag (T+D) contract will increase from 20% to 26% if a one-sided market condition occurs on February 2, 2026 [1] - If no one-sided market condition is observed, the margin level and fluctuation limits for the Ag (T+D) contract will remain unchanged [1] Group 2: Price Fluctuation Limits - The price fluctuation limit for the Ag (T+D) contract will be adjusted from 19% to 25% starting the next trading day if a one-sided market condition is present [1] Group 3: Risk Management - Members are advised to enhance risk awareness and develop detailed risk emergency plans, encouraging investors to manage risks effectively and control positions rationally to ensure market stability [1]

Core Viewpoint - The Shanghai Gold Exchange has announced adjustments to the margin levels and price fluctuation limits for silver deferred contracts due to significant price volatility, aiming to mitigate market risks [2]. Summary by Relevant Sections - **Margin Level Adjustment**: If a one-sided market occurs for the Ag (T+D) contract on February 2, 2026, the margin level will increase from 20% to 26% [2]. - **Price Fluctuation Limit**: In the event of a one-sided market, the price fluctuation limit will be raised from 19% to 25% starting the next trading day [2]. - **Risk Management Advisory**: Members are advised to enhance risk awareness, develop detailed emergency response plans, and encourage investors to manage risks effectively and invest rationally to ensure market stability [2].

Core Viewpoint - The Shanghai Gold Exchange has decided to adjust the margin levels and price fluctuation limits for silver deferred contracts due to significant price volatility in the silver market [2]. Group 1: Margin Level Adjustments - If a one-sided market occurs for the Ag (T+D) contract on February 2, 2026, the margin level will increase from 20% to 26% [2]. - In the absence of a one-sided market, the margin level for the Ag (T+D) contract will remain unchanged [2]. Group 2: Price Fluctuation Limits - The price fluctuation limit for the Ag (T+D) contract will be adjusted from 19% to 25% starting the next trading day if a one-sided market is observed [2]. - If no one-sided market occurs, the price fluctuation limit will stay the same [2]. Group 3: Risk Management Recommendations - Member units are advised to enhance risk awareness and develop detailed risk emergency plans [2]. - Investors are encouraged to manage their positions rationally and invest wisely to ensure the stable and healthy operation of the market [2].

鉴于目前白银价格波动幅度较大，为防范市场风险，根据《上海黄金交易所风险控制管理办法》的有关规定，我所经研究决定，对白银延期合约交易保证 金水平和涨跌停板比例进行调整。 现将相关事项通知如下： 来源：财联社 关注" 新华网财经 "视频号 更多财经资讯等你来看 若2026年2月2日（星期一）Ag（T+D）合约出现单边市情况，则自收盘清算时起，该合约的保证金水平从20%调整为26%，下一交易日起涨跌幅度 限制从19%调整为25%。 若未出现单边市情况，则Ag（T+D）合约保证金水平和涨跌幅度限制维持不变。 往期推荐 腾讯"元宝分10亿"活动2月1日0点正式开启，用户最高可领万元现金红 包，官方攻略发布 亚马逊官宣裁撤1.6万个职位 ...

Group 1 - The Shanghai Gold Exchange announced adjustments to the margin levels and price fluctuation limits for silver deferred contracts due to significant price volatility [1] - Starting February 2, 2026, if a one-sided market occurs for the Ag (T+D) contract, the margin level will increase from 20% to 26%, and the price fluctuation limit will change from 19% to 25% [1] - If no one-sided market occurs, the margin level and price fluctuation limits for the Ag (T+D) contract will remain unchanged [1] Group 2 - The exchange urged its members to enhance risk awareness and prepare detailed risk response plans to ensure market stability [1] - Investors are advised to manage their positions rationally and invest wisely to maintain a healthy market operation [1]

Group 1 - The Shanghai Gold Exchange has decided to adjust the margin levels and price fluctuation limits for silver forward contracts due to significant price volatility in the silver market [1][2]. - If a one-sided market occurs for the Ag (T+D) contract on February 2, 2026, the margin level will increase from 20% to 26%, and the price fluctuation limit will change from 19% to 25% starting from the next trading day [3]. - If no one-sided market occurs, the margin level and price fluctuation limits for the Ag (T+D) contract will remain unchanged [3].

Group 1 - The Shanghai Gold Exchange has decided to adjust the margin level and price fluctuation limits for silver forward contracts due to significant price volatility [1] - The margin level for the Ag(T+D) contract will increase from 20% to 26% if a one-sided market occurs on February 2, 2026 [1] - The price fluctuation limit will be adjusted from 19% to 25% starting the next trading day if a one-sided market is observed [1] Group 2 - If no one-sided market occurs, the margin level and price fluctuation limits for the Ag(T+D) contract will remain unchanged [1]

Core Viewpoint - The Bank of China has issued a warning regarding the volatility of precious metal prices since 2026, emphasizing the need for market risk prevention measures for clients involved in precious metal-related businesses [1] Group 1: Market Conditions - Since 2026, there have been numerous uncertainties in the precious metals market, leading to significant price fluctuations [1] - The Bank of China highlights the importance of clients understanding their financial situation and risk tolerance when engaging in precious metal trading activities [1] Group 2: Risk Management - Clients are advised to reasonably control their precious metal holdings to mitigate the risk of financial losses due to price volatility [1] - The Bank of China aims to protect the interests of clients with accumulated gold, accumulated profit gold, and account-related precious metal services [1]

Core Viewpoint - The Shanghai Futures Exchange has announced regulatory measures against a client for violating trading rules, highlighting the need for compliance and risk awareness in the current volatile market environment [1] Group 1: Regulatory Actions - A client executed a self-trade for the third time, violating Article 12 of the Shanghai Futures Exchange's regulations, leading to restrictions on opening positions in relevant contracts [1] - A group of accounts under common control exceeded the daily trading volume limits, violating Article 16 of the same regulations, resulting in similar restrictions on opening positions [1] Group 2: Market Conditions - The exchange noted that the international situation is complex and unpredictable, contributing to increased market volatility [1] - In light of the upcoming Spring Festival, the exchange urged relevant parties to enhance compliance management and advised investors to improve risk awareness and invest rationally to maintain market stability [1]

Group 1 - The Shanghai Futures Exchange (SHFE) announced regulatory measures against 16 clients for failing to declare actual control relationships in trading tin and silver futures [1][6] - The measures include a one-month restriction on opening positions and a restriction on withdrawals for the implicated clients [3][6] - The SHFE also adjusted trading limits for silver and tin futures, setting a maximum of 800 contracts for silver and 200 contracts for tin for intraday trading [3][5] Group 2 - The SHFE has implemented changes to margin requirements and price fluctuation limits for copper and aluminum futures, with a fluctuation limit of 9% and a margin ratio of 10% for hedging and 11% for general positions [5] - Since the beginning of 2026, silver futures have surged over 60%, while tin futures have increased by more than 30%, indicating heightened market activity [5][6] - Analysts emphasize the need for market participants to remain rational and cautious amid the rapid price increases and potential risks of irrational trading behavior [6][7]