Tighter Oversight And Margin Hikes For Silver Weigh

Gold sits $5/oz or so lower on the day, stuck in familiar territory, last printing $1,855/oz, although more focus has once again been given to silver.

• The latter has shed $0.70/oz on the session, to last deal around $28.35/oz, a little off worst levels of the day, and comfortably shy of Monday's peak located at $30.10/oz.
• Regulatory oversight has been noted on the back of the recent developments surrounding U.S. retail trading accounts, with the CFTC issuing a statement during the NY-Asia crossover, in which it noted that it "is closely monitoring recent activity in the silver markets. The Commission is communicating with fellow regulators, the exchanges, and stakeholders to address any potential threats to the integrity of the derivatives markets for silver, and remains vigilant in surveilling these markets for fraud and manipulation."
• Elsewhere, CME hiked margin requirements for its silver futures by 18%.