Silver Posts Biggest Three-Day Drop Since 1983 as Margins Jump

Silver futures tumbled, capping the biggest three-day slump in 28 years, as increases in Comex margins spurred investor sales. Gold declined after a report that Soros Fund Management LLC may have cut metal holdings.

CME Group Ltd., Comex’s owner, raised the minimum amount of cash that must be deposited when borrowing from brokers to trade silver futures to $16,200 per contract from $14,513 as of the close of business yesterday, the second increase in less than a week. A year ago, the margin was $4,250. In the four months ended April 30, silver surged 57 percent.