上金所同时提示，请各会员提高风险防范意识，做细做好风险应急预案，提示投资者做好风险防范工 作，合理控制仓位，理性投资，确保市场稳定健康运行。 来源：上海证券报·中国证券网 上证报中国证券网讯（记者 马慜）2月24日，上海黄金交易所发布关于调整部分合约保证金水平和涨跌 停板的通知，根据《上海黄金交易所风险控制管理办法》的有关规定，上海黄金交易所经研究决定，对 部分合约交易保证金水平和涨跌停板比例进行调整。 具体调整如下：自2026年2月24日（星期二）收盘清算时起，Au（T+D）、mAu（T+D）、Au （T+N1）、Au（T+N2）、NYAuTN06、NYAuTN12等合约的保证金比例从21%调整为18%，下一交易 日起涨跌幅度限制从20%调整为17%；Ag（T+D）合约的保证金比例从27%调整为24%，下一交易日起 涨跌幅度限制从26%调整为23%；CAu99.99合约保证金每手200000元调整至每手180000元。 来源：上海证券报·中国证券网 上证报中国证券网讯（记者 马慜）2月24日，上海黄金交易所发布关于调整部分合约保证金水平和涨跌 停板的通知，根据《上海黄金交易所风险控制管理办法》的有关规定，上 ...

Group 1 - The Shanghai Gold Exchange has announced adjustments to the margin levels and price fluctuation limits for certain contracts, effective from the close of trading on February 9, 2026 [2] - The margin ratio for Au (T+D), mAu (T+D), Au (T+N1), Au (T+N2), NYAuTN06, and NYAuTN12 contracts will increase from 17% to 18%, while the price fluctuation limit will change from 16% to 17% [2] - The margin ratio for Ag (T+D) contracts will rise from 23% to 24%, with the price fluctuation limit adjusting from 22% to 23% [2] Group 2 - In the event of a one-sided market on February 9, if the adjusted margin and price fluctuation levels exceed the stated standards, the higher standards will be applied [3] - Members are advised to enhance risk awareness and develop detailed risk emergency plans, encouraging investors to manage risks effectively and maintain rational investment practices to ensure market stability [4]

Core Viewpoint - The Shanghai Gold Exchange has announced adjustments to margin levels and price fluctuation limits for certain contracts, effective from February 9, 2026, to enhance risk management and market stability [1] Group 1: Margin Adjustments - The margin ratio for contracts Au (T+D), mAu (T+D), Au (T+N1), Au (T+N2), NYAuTN06, and NYAuTN12 will increase from 17% to 18% [1] - The margin ratio for the Ag (T+D) contract will rise from 23% to 24% [1] Group 2: Price Fluctuation Limits - The price fluctuation limit for the aforementioned gold contracts will change from 16% to 17% [1] - The price fluctuation limit for the Ag (T+D) contract will be adjusted from 22% to 23% [1] Group 3: Risk Management Recommendations - The Shanghai Gold Exchange urges its members to enhance risk awareness and prepare detailed risk response plans [1] - Investors are advised to manage their positions wisely and invest rationally to ensure the stable and healthy operation of the market [1]

Group 1 - The Shanghai Gold Exchange has decided to adjust the margin level and price fluctuation limits for silver deferred contracts [1][2] - Effective from February 3, 2026, the margin level for Ag(T+D) contracts will be reduced from 26% to 23% [1][2] - The price fluctuation limit will be adjusted from 25% to 22% starting from the next trading day [1][2] Group 2 - Member units are advised to enhance risk awareness and develop detailed risk emergency plans [1][2] - Investors are encouraged to manage their positions rationally and invest wisely to ensure market stability [1][2]

Summary of Key Points Core Viewpoint - The Shanghai Gold Exchange has decided to adjust the margin levels and price fluctuation limits for silver forward contracts due to significant price volatility, aiming to mitigate market risks [1]. Group 1: Margin and Price Limits 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% [1]. - 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 [1]. - If no one-sided market occurs, the margin level and price fluctuation limits will remain unchanged [1]. Group 2: Risk Management and Investor Guidance - Members are urged to enhance risk awareness and develop detailed risk emergency plans [1]. - Investors are advised to manage their positions prudently and invest rationally to ensure the stable and healthy operation of the market [1].

Core Viewpoint - The Shanghai Gold Exchange has announced adjustments to the margin levels and price fluctuation limits for silver deferred contracts, effective from January 30, 2026 [1] Group 1: Margin Level Adjustments - The margin level for Ag(T+D) contracts will increase from 19% to 20% [1] Group 2: Price Fluctuation Limits - The price fluctuation limit for the next trading day will change from 18% to 19% [1]

Core Viewpoint - The Shanghai Gold Exchange has announced adjustments to the margin levels and price fluctuation limits for gold and silver deferred contracts, effective from September 5, 2025 [1] Group 1: Margin Adjustments - The margin level for Au (T+D), mAu (T+D), Au (T+N1), Au (T+N2), NYAuTN06, and NYAuTN12 contracts will increase from 13% to 14% [1] - The margin level for Ag (T+D) contracts will increase from 16% to 17% [1] Group 2: Price Fluctuation Limits - The price fluctuation limit for gold contracts will change from 12% to 13% starting the next trading day after the margin adjustment [1] - The price fluctuation limit for silver contracts will change from 15% to 16% starting the next trading day after the margin adjustment [1]