Posted on 08/10/2011 6:42:19 PM PDT by Nachum
Just after hitting a new all time high of above $1815 in spot gold, the CME immediately sent out a notice to members advising that gold margins for Tier 1 members were increasing by 22% for both initial and maintenance positions, from $4,500 to $5,500. Unfortunately for the CME, this predetermined move was telegraphed to the market weeks ago, and with rumor 57 out of 22 finally turning out correct, this latest move only managed to push gold down modestly, and at last check was once again trading above $1,800. Just like all central bank interventions, which now have a half life between 1 hour and 4 days max, so this latest exchange attempt to subdue prices will fail spectacularly. Naturally, just like in the case of silver, this will merely embolden the CME to proceed with hike after hike, which in turn will kill speculative elements while merely reinforcing the strong hands. End result: in one month gold will be above $2,000 with almost 100% certainty.
In addition, the CME also hiked CHF futures by 443%, Yen futures by 25%, Ruble futures by 36%, as well as TEN, UBE and I3. The only margins that were cut were those of Uranium which dropped from 1320/1200 to 990/900 for initial/maintenance.
(Excerpt) Read more at zerohedge.com ...
Note to the the CME and Obamatrons...
You can’t touch this
http://www.youtube.com/watch?v=otCpCn0l4Wo&ob=av2e
Whats the current price?
$1805.00 +/-
HA ha ha.... LOL.... he he
I just love it!!!!
Future spot price went over $1800/oz
-——in one month gold will be above $2,000-——
Meanwhile, brass and lead will be on sale at Walmart
Always current within reason:
http://www.kitco.com/
Calling Tyler Durden a retard is a profound insult to retards. It’s perfectly normal for margins to be raised along with the price of a commodity. The initial margin for a 100 oz contract is now $7425. This means that $7425 is all you need to speculate on $180,000 (at $1,800 an ounce) worth of gold futures. In other words, a gold speculator in only putting up $1 for every $24 of gold futures he controls. Initial margins for stock purchases also go up with stock prices - the initial margin for 100 shares of IBM at $160 is double what it was when IBM was selling at $80 a share.
When gold goes up, Obama goes down. (As do a few resentful Freepers who wish they’d planned their finances differently).
Calling Tyler Durden a retard is a profound insult to retards.
Note the the margin raises in Silver were absurd compared to any standard, and I assume that this is more of the same, and do not trust an old lurker like you.
Ty guys.
“Calling Tyler Durden a retard is a profound insult to retards.”
Really? So you have read zerohedge.com and that’s your assessment?
You’ve embarrassed yourself
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.