NSE Circular on Gold: NSE has issued a circular regarding gold and silver. Let us explain it in detail.
The National Stock Exchange (NSE Clearing Limited) has made a major announcement regarding gold and silver. According to the new circular, in view of the increasing volatility in gold and silver futures, it has decided to impose additional margin. According to the circular issued on October 22, 2025, from October 23, an additional margin of 2.5% will be imposed on all Silver Futures Contracts and 1% on Gold Futures Contracts. Experts say that this step has been taken to control risk and maintain market stability.
What does NSE’s new decision mean? Gold and silver prices have experienced significant volatility in recent weeks. Gold fell below $4,100 per ounce, and silver declined by 7%. In light of this volatility, NSE Clearing Limited decided to reduce the risk exposure of investors and the broker system. Therefore, additional margins are being implemented effective October 23rd.
Click the link for the circular.
How much will the margin increase? According to the NSE circular (Ref. No. NCL/COM/70914), an additional margin of 2.5% will be applicable on Silver Futures (all variants). An additional margin of 1% will be applicable on Gold Futures (all variants). These include contracts such as SILVER, SILVERM, SILVERMIC, GOLD, GOLDM, GOLDGUINEA, and GOLD1G. This rule will be applicable from October 23, 2025 (Begin of Day).
Which Expiry Contracts Will It Apply To? This additional margin will apply to the following contracts:
SILVER (October 31, November 28, December 5, 2025 expiry)
GOLD (October 31, November 4, December 5, 2025 expiry)
This means that more cash or collateral will be required for each open position.
How will this affect traders?
? Intra-day traders and hedgers will be most affected, as they will have to block more funds for their trades.
This rule will also increase trading costs for retail traders. However, NSE maintains that this step is necessary for market safety and risk control. Experts believe this decision will help control short-term volatility.
Is this change temporary? Yes, it is possible that this additional margin is temporary. NSE periodically reviews market conditions, and when volatility decreases, the additional margin may be withdrawn.



