2/2/2026
- Gold and silver continued to sell off on Monday, deepening losses from last Friday’s rout.
- Spot gold crashed nearly 10% on Friday, while silver nosedived 30%.
The CME Group increased margin requirements following the steep sell-off last week, effective Monday after market close. Margins on COMEX gold futures have been raised to 8% from 6%, while those on the COMEX 5,000-ounce silver futures were lifted to 15% from 11%.
According to Google AI
The sharp decline in gold and silver prices on
February 2, 2026, is primarily driven by the nomination of Kevin Warsh as the next Federal Reserve Chair, which has strengthened the U.S. dollar and shifted interest rate expectations. This “Warsh rout” triggered a historic sell-off, with gold falling nearly 9% and silver plunging over 31% in a single session last Friday, moves that extended into Monday’s trading.
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