From: KyrosL9/23/2011 6:00:12 PM of 80203
Maybe the news leaked ...
CME Raises Gold, Silver, Copper Margin Requirements
DOW JONES NEWSWIRES
Exchange operator CME Group Inc. (CME) Friday said it would raise the collateral requirements for trading in gold, copper, and silver futures. Each of the metals plunged in trading this week.
Gold margins will be raised by 21%, silver margins by 16%, and copper margins by 18%, effective at the close of trading Monday, CME said in an email after trading closed Friday.
Following the change, speculative investors in the benchmark 100-troy ounce gold contract must put up $11,475 to open a position and maintain $8,500 of that to keep it overnight. Producers and consumers of the precious metal must put up $8,500 to open a position, and the same figure to hold it overnight.
In silver, speculative traders must put up $24,875 to trade a 5,000-ounce contract. The cost to hold a contract overnight was lifted to $18,500.
Copper speculators must post $6,750 to open a contract and $5,000 to hold it overnight. |
