CME Group will lower the initial and maintenance margin requirements – a sum that must be maintained on deposit – for its gold, silver platinum contracts after the close of business today as per its normal review of market volatility, the exchange said in a notice.
Speculators in Comex gold will be required to make an initial deposit of $4,400 from $5,060 to hold a benchmark 100-ounce gold contract overnight. The gold maintenance margin requirement for speculative traders and the margin for hedge accounts will fall to $4,000 from $4,600 previously.
In Comex silver, the US exchange will lower the initial speculative margin for its 5,000-ounce contract to $6,050 from $7,150. The margin requirement for the maintenance speculative positions will drop to $5,500 from $6,500.
CME will also lower its Nymex platinum initial margins to $1,980 per contract from $2,310, while the maintenance margin will now be $1,800 from $1,980.