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http://www.gata.org/node/10475
Exchange operator CME Group Inc. will raise the collateral requirements for trading in gold, copper, and silver futures after a volatile 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.
Raising margin requirements always makes it more costly to buy metals on the futures market. Such action has always served to depress the prices of the metals. Normally, they make these decisions to bring down the metals prices when they are considered to be "too high." But this time they are doing it after the prices have already been greatly depressed.
It appears that the Great Slam is finally here just before the prices shoot for the moon.
Good news: it appears that we will have more buying opportunities at low, low prices.
Dr. Stephen Jones has been writing blog posts since 2005 on a variety of topics from Bible Studies to World News, and he has been writing books since 1992. Dr. Jones' most important writings came after God brought him back into the full-time ministry in 1991. It is here that all his earlier years of searching the Scriptures began to come into clear focus. He combines a knowledge of the Old and New Testaments with a personal revelation of God that began and developed during the "wilderness" period of his life, which he often refers to as God's True Bible College... Read More
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