Gold pulled back from record highs today (Monday), withsilver also retreating after recent gains, as investors booked profits andeasing geopolitical tensions reduced safe-haven demand.Spot gold fell 1.7% to $4,455.34 per ounce, after reaching arecord high of $4,550 on Friday. U.S. gold futures for February delivery lost1.2%, settling at $4,500.30 per ounce. Spot silver slipped 4.6% to $75.47 perounce, after briefly trading at $83.62.Silver Volatility Rises Amid Margin HikesSilver markets are entering a critical week following theChicago Mercantile Exchange’s second margin increase in two weeks. The initialmargin for March 2026 silver futures rose to about $25,000 from $20,000, addingpressure on leveraged traders. Analysts said this could reduce leverage andtrigger volatility, while low inventories and strong industrial demand continueto support prices.Tokenized Silver Trading Sees Rapid GrowthInterest in silver is also moving into tokenized markets.Data from RWA.xyz shows monthly transfer volumes for its tokenized version ofthe iShares Silver Trust (SLV) increased more than twelvefold, alongside a 300%rise in holders and a 40% gain in net asset value. CME Group announced an increase in margin requirements for silver futures. Starting December 29, 2025, the initial margin for March 2026 silver contracts will rise to $25,000. This move comes amid rising silver prices and growing concern about market manipulation. CME has… pic.twitter.com/ij4MkVKw4v— Santa Surfing (@SantaSurfing) December 28, 2025Tokenized silver allowsinvestors, including non-U.S. participants, to trade digital tokensrepresenting SLV around the clock, reflecting growing demand forblockchain-based exposure.Silver has gained 181% year-to-date, outpacing gold, whichhas risen 72% in 2025. Traders are anticipating further U.S. rate cuts nextyear, while analysts said gold and silver remain sensitive to economic andpolicy developments.Just sold all my real estate & BTC and and my businesses - I’m all in on gold & silver. pic.twitter.com/dEXiDg9Ma4— Grant Cardone (@GrantCardone) December 28, 2025Gold Hits Records Amid Fed ExpectationsJust before Christmas, gold prices rose sharply, reaching anew record. Spot gold traded around $4,420 per ounce, up more than 1.7% on theday. Analysts attributed the gains to expectations of further U.S. FederalReserve rate cuts, a weaker U.S. dollar, and ongoing geopolitical risks.Kathleen Brooks, Research Director at XTB, said, “The goldprice hit a fresh record high, as geopolitical concerns heat up and hopes growthat the Fed can continue to cut rates next year.” Some analysts noted thatthin liquidity during the holiday period could increase short-term volatility,but longer-term forecasts remain broadly positive, supported by central bankdemand and macroeconomic factors.This article was written by Tareq Sikder at www.financemagnates.com.