Silver Plunges On The Day (SLV)

Silver is continuing its freefall today, as it ended at $26.87 an ounce, a drop of 7.1%. Yesterday, the CME Group CME raised margin requirements on silver, going from $5,000 to $6,500. This caused a sharp sell off in the precious metal. At last check, the ETF which tracks the metal, iShares Silver Trust ETF SLV was higher, up 26 cents to $26.44, a gain of 1%.