On Monday, gold continued its fall, with increases in CME precious metals margin requirements to come into force on end of the session weighing on prices.

The spot gold price was down by 3.3% % to $4,703.27 per ounce at 02:59 GMT, after falling by more than 5% earlier in the session to reach its lowest level in more than two weeks.

The gold price reached a record of $5,594.82 on Thursday. American gold futures for deliveries in April were down by 0.3% to 4,729.20 dollars the ounce.

COMEX gold futures margins (1) oz) were increased from 6% to 8%, while those for futures contracts on COMEX 5000 (SI) money should increase from 11% to 15%.

Platinum and Palladium Futures will also experience increased margin requirements.

An increase in margin requirements is generally negative for the contracts concerned, as the increase in capital expenditure can curb speculative participation, reduce the liquidity and encourage operators to liquidate their positions.

“Warsh could lower rates again soon after his entry into office, but he is not the “ultra-dove” candidate that the market had largely anticipated,” Waterer said.

“His political approach has generally been favorable to the dollar and, therefore, unfavorable to gold, due to its attention paid to inflation and his pessimistic views on quantitative easing and excessive Fed balance sheets.

The price of silver spot fell by 5% to settle at $80.28 per ounce.

It hit a record $121.64 on Thursday before hit a low of nearly a month on Friday.

mso-bidi-language:ar-sa">Platinum at counting lost 4.1% to $2,074.70 per ounce after reaching a record $2,918.80 on January 26, while that mso-ansi-language:fr; mso-fareast-language:en-us; mso-bidi-language:ar-sa">palladium mso-fareast-font-family:calibri; mso-fareast-theme-font:minor-latin; mso-bidi-font-family: “Times New Roman”; mso-bidi-theme-font:minor-bidi; mso-ansi-language:fr; Mso-fareast-language:en-us; Mso-bidi-language:ar-sa"> lost 3.3% for settled at $1,642.35