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It has been so long since the CME cut gold and silver margins that frankly we are a little bit stunned... In an extended announcement, which saw outright margins for virtually every commodity get cut, the CME just lowered Initial and Maintenance margins of gold (by 12%) and silver (13%) ...
The CME announced after today’s close a 10.7% REDUCTION in silver initial and maintenance margins effective Monday 8/6/12.
Initial silver margins cut from $18,900 to $16875, and maintenance margins cut from $14,000 to $12,500.
Apparently Knight was a major player in the ETF racket, er..market. And as such the margins tripled overnight? I heard on CNBC this morning. Anyone got more on that?
The CME Group on Thursday lowered margins for natural gas, gold, silver, copper, lean hog and live cattle futures, effective after close of business on Tuesday, Nov. 20.
CME, the biggest operator of U.S. futures exchanges, cut initial margins on COMEX 100 Gold Futures 18.5 percent to $7,425 a contract from $9,113, but left maintenance margins for the yellow metal unchanged.
The exchange operator trimmed maintenance margins to trade silver to $11,000 per contract, from $12,500, and initial margins to $12,100 from $16,875 per contract.
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That's a sign that there's no massive raid in planning. I guess through tonights COT report we'll learn that the commercials have covered a massive amount of shorts. The real picture will be visable next Friday, though, as the COT reports only cover data until Tuesday of the respective week.
Although Open Interest remains high in silver, the CME must need a new flock of investors to fleece in paper metals, as the CME announced after Thursday’s market close a major reduction in gold and silver margins effective after the close Tuesday Feb 12th.
The CME cut gold initial and maintenance margins from $6,600 & $6,000 to $5,940 & $5,400 respectively, and also slashed silver initial & maintenance margins from $12,100 & $11,000 to $10,400 & $9,500, a reduction of 10% in gold & 14% in silver!
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The Gold market is very thin right now ...
Hopefully it's an indication that smart money isn't putting itself at risk of getting fooled a 3rd time (MF Global, Knight/PFG Best). Buy physical or GTFO. :judge:
This smells like a set up for the longs to get their dick stepped on again........better watch out here.
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CME lowered Comex 100 Gold futures (GC) margins for speculators to $7,975 per contract from $8,800 and cut Comex 5000 Silver futures (SI) margins to $11,000 per contract from $12,375.
The move partially reversed a 25 percent hike in gold margins in June after prices plunged to their lowest in three years.
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CME also cut maintenance margins for gold to $7,250 per contract from $8,000.
The decrease of $750 per contract in gold speculative maintenance margins -- multiplied by both sides of the open interest in the market, which stood at 403,603 contracts on Thursday -- suggests $605 million less in margin escrow.
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