The CME Group is looking to slow the rise in gold futures yet again. For the third time in a month, the operator of the Comex exchange is raising margin and maintenance requirements for those of whom trade in gold contracts.
Previously set at $9,185, trades of the Comex 100 Gold Futures (GC) will now require $10,065 in margin in a traders account before the contract can be opened. Likewise, the maintenance figure, previously set at $8,350, has now increased to $9,150 as the exchange looks to slow volatility seen in the precious metal.
Both figures rose 9.6%, as compared to the previous increase of 19.3% enacted on March 25.
The new rates will be effective after the close of business on Tuesday, April 14.
The new requirements for gold futures comes as the CME Group looks to reduce volatility across a number of commodities, which range from block cheese, to lean hog, to platinum/palladium. The full list of increased margin and maintenance requirements going into effect as of April 14 can be found here.
The spot price of gold last traded at $1,715.80, while gold futures last touched $1,769.00.
Information for this briefing was found via the CME Group. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
8 Responses
Gold is going to the moon!
Theyre looking to slow the rise because they know it will just come right back down.
BRING BACK THE GOLD STANDARD!
MMT isn’t the path prosperity. Austerity all day.
Trump is the only guy who gets it!
Devalue the currency and bring back jobs!
MAGA 4LYFE!
#GOLD5000
Sigh…
Gold is going to $10,000
Of course! Fiat is done!
Neoliberals can go suck on an ignorant egg!
What is a neoliberal? Let me guess Herman, you’re a 22 year old kid in College who likes to use obscure words to hit on chicks in front of your dorm building well you smoke pot…
Pornhub my man.. Its free!