Prices of silver futures charged to a two-month high on technical buying stemming from perceptions that the economy is climbing out of recession.
In the last nine months of 1979, the brothers were estimated to be holding over 100 million troy ounces of silver and several large silver futures contracts.
Prices of silver futures soared, marking a partial recovery from 17-year lows.
The exchange raised initial speculative margins on silver futures to $3,300 per contract, from $2,000, while those for trade hedgers went to $2,400 from $1,400.
When silver futures were climbing, the common spread involved the purchase of silver futures and the sale of gold contracts.
The Hunts' problems began in 1980 when Nelson and William Hunt lost $1.5 billion speculating in silver futures.
Prices of silver futures soared yesterday to seven-month highs in their largest one-day gain since last September.
The prices of silver futures fell sharply on the Commodity Exchange in New York.
Prices of silver futures rose sharply, while coffee, energy, soybean and grain futures fell.
Minpeco had said it lost $151 million because it invested in silver futures while the Hunts were manipulating the market.
