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Thursday, August 25, 2011 3:50:30 PM
– The CME Group, who owns and runs the COMEX gold futures market, just announced a margin increase of 27 per cent, effective from close of business on 25 August.
– That is a hefty increase and comes after a 22 per cent increase announced two weeks ago.
– So if you’re a gold futures speculator and want to buy 100 contracts of COMEX gold futures (1 contract = 100 ounces), yesterday it cost US$742,500 to establish the position. On Friday, the same position will soak up US$945,000 of your cash.
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