BEIJING - The Shanghai Futures Exchange said on Friday that it would raise daily price change limits for gold, silver futures to 14% from 12%, amid the recent rally in prices of the precious metals.

Margin requirements for hedging positions of gold, silver futures on the exchange will be lifted to 15% from 13%, it also said.

All adjustments will take effect from the settlement on October 21, according to the bourse.

Gold and silver have had a record-breaking run, fuelled by growing safe-haven demand amid renewed global trade tensions, heightened bets on rate cuts by the U.S. Federal Reserve and strong central bank buying.

The most active gold futures on the Shanghai exchange closed daytime trade 3.82% higher at 999.8 yuan ($140.31) a gram. The contract hit an all-time high of 1,001 yuan earlier in the session.

Meanwhile, the most traded silver futures on the exchange hit a record high of 12,366 yuan per kilogram.

Both gold and silver have recorded an increase of 61% so far this year.

($1 = 7.1255 Chinese yuan)

(Reporting by Amy Lv, Xiuhao Chen, Yukun Zhang and Ryan Woo Editing by Tomasz Janowski)