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Silver Slumps After Comex Raises Margin Requirement; Gold Slides

Silver fell from the highest price in 30 years after CME Group Inc.’s Comex unit raised margin requirements. Gold dropped from a record.

The minimum amount of cash traders must deposit when borrowing from brokers to trade silver futures will rise to $6,500 per contract from $5,000 for exchange members, said Michael Shore, a spokesman for the exchange in Chicago. Silver surged as much as 7 percent to $29.34 an ounce in New York today, the highest price since March 1980, before retreating.