CME Group Inc has increased margin requirements for gold and silver futures on the Comex, following the largest price declines for these contracts in decades.

The exchange stated in a Friday announcement that for non-high-risk accounts, the margin requirement for gold will be raised from the current 6% to 8%. The exchange indicated that for high-risk accounts, the margin requirement will increase from the current 6.6% to 8.8%.

According to the statement, for non-high-risk accounts, the margin requirement for silver will be raised from the current 11% to 15%, while for high-risk accounts, the silver margin will increase from the current 12.1% to 16.5%. Margin requirements for platinum and palladium futures contracts will also be raised.

CME Group stated that these adjustments, effective after the close of trading on Monday, are the result of a "routine assessment of market volatility to ensure adequate collateral coverage."