Spot Silver (XAG/USD) has been tumbling so far this week, as it sets for its largest weekly drop since 1983. The drop in silver is being attributed to a broader sell-off in commodities and to a rise in margin requirements for US silver futures by the Chicago Mercantile Exchange.

Silver is down 23.85 percent so far this week, now at $36.574/oz, after opening the week at $48.265 and after hitting a 31-year peak at $49.82 last week on the 25th of April.

Gold (XAU/USD) is also lower this week, by 4.11 percent and has traded below $1,500/oz for the first time since trading above it.