Silver prices fell 1% on Thursday to a one-month low, after the CME Group hiked margin requirement on COMEX silver again, while gold held steady.
Spot gold was little changed at $1,516.29 an ounce by 0042 GMT, after falling for three sessions straight.COMEX gold futures edged up $1.30 to $1,516.60.COMEX silver futures fell 1.2% to a one-month low of $38.91. Spot silver fell by 1% to $38.92.
The CME Group set successive hikes on COMEX silver futures margin, pushing margin up 84% in just eight days.As COMEX silver tumbled under the weight of surging margins, the iShares Silver Trust , the world's largest silver-backed exchange-traded fund, experienced a near 5% fall in its holdings.
Mexico massively ramped up its gold reserves in the first quarter of this year, buying over $4 billion of bullion as emerging economies move away from the ailing US dollar, which has dipped to 2-1/2-year lows.
Spot gold was little changed at $1,516.29 an ounce by 0042 GMT, after falling for three sessions straight.COMEX gold futures edged up $1.30 to $1,516.60.COMEX silver futures fell 1.2% to a one-month low of $38.91. Spot silver fell by 1% to $38.92.
The CME Group set successive hikes on COMEX silver futures margin, pushing margin up 84% in just eight days.As COMEX silver tumbled under the weight of surging margins, the iShares Silver Trust , the world's largest silver-backed exchange-traded fund, experienced a near 5% fall in its holdings.
Mexico massively ramped up its gold reserves in the first quarter of this year, buying over $4 billion of bullion as emerging economies move away from the ailing US dollar, which has dipped to 2-1/2-year lows.
No comments:
Post a Comment