by 50 % ..... NEW YORK, NY, February 5, 2003 â Margins on the New York Mercantile Exchange, Inc., COMEX Division gold futures contracts will be increased at the close of business tomorrow. Gold futures margins will be increased to $1,500 from $1,000 for members, member firms, and hedgers, and to $2,025 from $1,350 for speculative customers.
The enormous spec position (245k contracts) is mostly small and overleveraged. This change gives the institutional shorts a chance to cover. Don't even ask why GC only trades until 13:30..
Dont think so, should consolidate at the middle band so that's 360-365 at least for a while then maybe fall to the lower band which in the mean time will have moved up.
no, it means the big boys (JPM) want to push it down. when was the last time nymex upped the limit for ANY commodity?