00:00It's Benzinga bringing Wall Street to Main Street.
00:02Gold and silver prices fell on Monday as higher CME margin requirements added selling pressure
00:07following last week's sell-off tied to Kevin Walsh's nomination as Federal Reserve Chair,
00:13according to Reuters. Spot Gold dropped 1.8% to $4,775.96 per ounce after recovering from an
00:22earlier nearly 10% slide, while Bullion is down about $900 from its January 29th record of $5,500
00:30$594.82. U.S. gold futures for April rose 1.2% to $4,800.50. Spot silver fell 1.1% to $83.73
00:43after rebounding from a 15% intraday drop and is down about 33% from last week's peak.
00:50CME said margin hikes announced January 30th take effect after Monday's close.
00:55Analysts said higher margins and dollar strength have intensified selling.
00:58For all things money, visit Benzinga.com.
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