Today's M^3 - Silver Futures down 24% over last 30 days

Today's Major Market Move involves, a commodity that's been prominently featured over the last couple weeks: Silver. Silver futures front month contract is down 24% over the last 30 days.



But even with that drop, silver is still the best performing commodity since the beginning of the year.



There's been a lot of talk on the interwebs regarding the various exchanges raising margin requirements for silver and some of the other commodities. The implication is that these margin changes have perpetuated the drops but as Karl Denninger has astutely pointed out, it all depends on which side has more leverage.