NEW YORK (
) -- The
, operator of the Chicago Mercantile Exchange, announced late Wednesday it's
CME said the initial requirement to trade 100-ounce gold futures is rising 27% to $9,450 from $7,425 previously, while the maintenance margin would be boosted to $7,000 from $5,500. The changes are effective on Thursday.
The move follows a lift of margin requirements by the CME earlier this month, and a similar boost by the Shanghai Exchange earlier this week.
Gold for December delivery
at the Comex division of the New York Mercantile Exchange, putting the yellow metal down more than $150 in the past two days after it climbed above $1,900 an ounce.
SPDR Gold Trust
ETF lost 3.4% to $171.65 on Wednesday, putting it down 7% since its close at $184.59 on Monday.
Written by Michael Baron in New York.
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