Friday, June 21st 10:16 AM IST

CME raises initial margins on Gold,Platinum futures

# Chicago  # CME  # Platinum  # Gold  

The parent of the Chicago Board of Trade is raising Comex 100 Gold Futures (GC) initial margins for speculators by 25 percent, to $8,800 per contract from $7,040

CHICAGO(BullionStreet): World's largest futures exchange company, the CME Group Inc raised the initial margins on trading in gold and platinum from Monday 24th June.

The parent of the Chicago Board of Trade is raising Comex 100 Gold Futures (GC) initial margins for speculators by 25 percent, to $8,800 per contract from $7,040.

Platinum futures NYMEX (PL) initial margins for speculators will rise 12.5 percent, to $3,465 per contract from $3,080.

The initial margin required to trade Comex 100 gold futures now stands at $8,800 per contract, compared with $7,040 earlier.

The CME's decision came after August gold futures plunged $87.80, or more than 6%, to end at $1,286.20 an ounce on Thursday, the futures' lowest closing level since September 2010.

How about a fully featured Android App for your business?

Bullion Street Newsletter