Loading ...” Silver margins are rising on the Comex division of the New York Mercantile Exchange as of the close of business on Friday, CME Group said in a notice.
The move comes after gold margins were hiked twice in the last two weeks. The exchange said the increase in silver margins was “per the normal review of market volatility to ensure adequate collateral coverage.” Margins act as collateral on futures trades in which market participants put up money for only a small percentage of the total value of a contract.
For speculators in the benchmark 5,000-ounce Comex silver contract, the “initial” margin for opening a new position will rise to $5,775 from $5,280. The “maintenance” margin for exiting spec positions, as well as all hedge positions, will rise to $5,250 from $4,800. Margins are also rising for the smaller-sized silver contracts.”
http://www.kitco.com/news/2016-07-08/CME-Group-Hiking-Margins-For-Silver-Futures.html
Comment: Apparently the folks in charge have decided to put Gold and Silver back into the lock down box. Well, it is July, a month generally not favorable to the Precious Trading season.