CME Group Boosts Margin Requirements on Gold Following Sharp Drop
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Following the plunge in gold on Monday, the CME Group (NYSE: CME) said it would raise collateral requirements for trading the precious metal, along with natural gas futures contracts.
Margins on 100-troy ounce gold futures will increase by 19 percent while nat gas will rise 5.6 percent. Other adjustments include an 18 percent increase to silver, 14 percent to palladium, and 19 percent on platinum.
The new margin requirements will be in place effective Tuesday.
Following a near-8 percent drop Monday, gold futures are higher in early trading.
Margins on 100-troy ounce gold futures will increase by 19 percent while nat gas will rise 5.6 percent. Other adjustments include an 18 percent increase to silver, 14 percent to palladium, and 19 percent on platinum.
The new margin requirements will be in place effective Tuesday.
Following a near-8 percent drop Monday, gold futures are higher in early trading.
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