Up through margin calls

Initial margin of Gold

CME Group is lowering margins for gold and silver futures after of the close of business on Friday.

The exchange operator sent out a notice late Thursday saying it was changing margins in some of the metals, along with coal, crude oil, electricity and equity indexes, “per the normal review of market volatility to ensure adequate collateral coverage.” Margins were raised for some markets and lowered for others.

Margins act as collateral to back a trade in the futures market.

For the main 100-ounce Comex gold futures contract, CME Group is lowering the “initial” margin for establishing a new speculative position to $6, 600 from $7, 150. The “maintenance” margin for existing speculative positions, as well as all hedge positions, will decline to $6, 000 from $6, 500.

For the main 5, 000-ounce silver contract, the initial margin for speculators will decline to $9, 075 from $9, 900. The margin for maintenance of speculative positions, as well as all hedge positions, will decline to $8, 250 from $9, 000.

CME Group is also lowering the margins the smaller-sized contracts.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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