25 Aug '11, 8am

Gold Plunges on Margin Hikes

Gold Plunges on Margin Hikes

Gold Plunges on Margin Hikes by Martin Lee on August 25, 2011 For the second time this month, the CME Group, the operator of New York’s Comex exchange (the main metals and energy exchanges in the U.S.), announced an increase in margin requirements to trade gold. It raised the amount of money needed to trade gold contracts by 27% to $9,450 per 100-ounce contract. This followed a 22% increase in margin requirements two weeks ago. After Shanghai Gold Exchange raised its margins on Tuesday, there were rumors that CME would follow suit. This led the price of gold into a correction even before the news was announced. This price of gold has now dropped more than $160 per ounce from a high of US$1911 on Tuesday to below US$1750 on Wednesday. This was the largest two-day absolute fall in more than thirty years, and a more than 8% correction. The last time CME hiked the margin requi...

Full article: http://thefinance.sg/2011/08/25/gold-plunges-on-margin-hi...

Tweets

New post! "Gold Rush" at

New post! "Gold Rush" at

theseams.blogspot.com 25 Aug '11, 7am

cover up into today's outfit. I just love how it's incredibly sheer and light weight making this hot weather more bearable...

Interest in gold ETFs up

channelnewsasia.com 26 Aug '11, 4pm

SINGAPORE: The value of gold has fluctuated more than most investments in recent weeks, and where it goes next depends ver...

US dollar gains against euro, yen; gold sinks

channelnewsasia.com 24 Aug '11, 10pm

NEW YORK: The US dollar gained slightly against the euro and the yen on Wednesday, driven by upbeat US manufacturing data,...

Colette bling: Shopping haul at Colette yesterday Gold polish (BYS Astro Gold & Face of…

Colette bling: Shopping haul at Colette yesterd...

chaigyaru.com 05 Sep '11, 3am

khatsii on Fathers Day khatsii on Colette bling khatsii on GEO Princess Mimi PhoenixCrash on GEO Princess Mimi Anna on All...

Gold shining brightly amid uncertainty: China i...

todayonline.com 26 Aug '11, 9pm

Hans Sennholz, the renowned economist, remarked that "No other commodity enjoys as much universal acceptability and market...

Surfers Paradise, Gold Coast

Surfers Paradise, Gold Coast

storyofbing.com 05 Sep '11, 5pm

I’ve arrived at Surfers Paradise with my friends and it is beautiful here. This was the view from my bedroom! Woohoo! Gold...