Core Viewpoint - The Bank of China announced adjustments to the margin requirements and price fluctuation limits for silver and gold deferred contracts to protect investor interests and mitigate market risks, following directives from the Shanghai Gold Exchange [1][4]. Summary by Category Margin Adjustments - Starting from the close of trading on February 3, 2026, the margin requirement for silver deferred contracts will decrease from 26% to 23%. The Bank of China's margin multiplier for silver contracts will change from 254% to 287%, resulting in a client margin ratio adjustment from 66.04% to 66.01% [1][4]. - For gold deferred contracts, effective from the close of trading on February 4, 2026, the margin requirement will increase from 16% to 17%. The Bank of China's client margin ratio for gold contracts will rise from 42.24% to 44.88% [1][4]. Price Fluctuation Limits - The price fluctuation limit for silver deferred contracts will be reduced from 25% to 22%, effective from February 3, 2026, at 20:00 [1][4]. - The price fluctuation limit for gold deferred contracts will increase from 15% to 16%, effective from February 4, 2026, at 20:00 [1][4].