Gold and silver prices fell on Wednesday as investors Historic Annual Rally Exchange operator CME Group raised margins on precious metals futures for the second time in a week.

spot gold Prices were down 0.8% at $4,313.59 an ounce at 7:50 a.m. ET, extending losses seen on New Year’s Eve. Gold hit a new weekly low in the previous session.

spot silver Meanwhile, prices fell 6.2% to $71.77 an ounce, retracing previous gains. Climbs above $80 This was the first time this week.

The moves come at the end of a blockbuster year for the precious metal.

Gold has gained more than 64% so far this year and is on track for its best annual performance since 1979 and its third straight year of gains. The rally was supported by a number of factors, including U.S. interest rate cuttariff tensions and strong demand from exchange-traded funds (ETFs) and central banks.

By 2025, silver will far outpace gold. This timeless metal wild price swings In recent days, annual gains are expected to approach 150%. Like gold, this would be silver’s best annual performance since 1979. blocked The combined impact of low supply and high demand from India along with industrial demand and tariffs.

CME Group is one of the world’s largest commodities trading floors. explain Margins for gold, silver, platinum and palladium are set to rise again on Tuesday after Wednesday’s close.

The decision was made “based on a normal review of market volatility to ensure adequate collateral coverage,” the company said in a statement.

The notice means traders will need to put down more cash to ensure there is no default when contracts are received.

CME Group raises margin requirements for precious metals earlier this weekprompting gold and silver futures to fall sharply on Monday.

—CNBC’s Gaelle Legrand contributed to this report.