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Politics : Ask Michael Burke
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To: yard_man who wrote (39610)12/16/1998 6:14:00 PM
From: Knighty Tin  Read Replies (1) of 132070
 
Tipster, It depends on the metal and the exchange. For example, 100 oz. contracts of gold at the Comex are around $30,000 straight purchase, but you can do a 50 ounce contract at the MidAm. Platinum at the Comex is 50 ounces, and 25 at the MidAm, so figure $9-18000.

Margin is very low. I don't use it, but I think it is only 2 or 3% for most metals. Of course, if you were short palladium today on 2 or 3% margin, you had several panicky calls from your broker. <G>

MB
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